British International Investment to invest up to Rs. 1,925 crores / USD 250 million at a valuation of up to Rs. 70,070 crores / USD 9.1 billion, into a new 4 Wheel Passenger Electric Vehicle Co. to be set up by Mahindra & Mahindra Ltd

The EV Co. will focus on four-wheel passenger electric vehicles. The total capital infusion for the EV Co. is envisaged to be approximately INR 8,000 crores / USD 1 billion between FY 24 and FY 27 for the planned product portfolio.