BII To Invest Rs 650 Cr In M&M’s EV Arm

New Delhi: Automaker Mahindra & Mahindra Ltd (M&M) on Monday said British International Investment Plc (BII) will make a final tranche investment of Rs650 crore, as against earlier planned investment of Rs725 crore,

in its electric vehicles arm. Earlier this year in May, the company had intimated that it and British International Investment Plc have mutually agreed to extend the timeframe for the final tranche of BII’s planned investment of Rs725 crore in Mahindra Electric Automobile Ltd (MEAL) and would jointly assess whether additional investment is required by December 31, 2024, M&M said in a regulatory filing.