July 12, 2022
Tata Motors sells 100x more EVs than M&M – but both are valued at around $9 billion
Mahindra & Mahindra’s electric vehicle business is still in its nascent stages, but investors have valued it on par with Tata Motors’ EV biz.
While pure numbers may not be enough to justify the steep valuation of M&M EV biz, investors might be looking at the company’s future prospects.
While Tata Motors has sold nearly 100x more electric cars than Mahindra in the last year, two financial metrics are bogging it down.
We try to decode why investors are giving M&M and Tata Motors’ EV businesses the same value, despite the massive differences.
Photo via @BiIndia