Mahindra's EV unit raises $145 million from Temasek
Temasek will take up to a 3% stake in the company, which last year raised up to $250 million from British International Investments (BII) at a valuation of as much as $9.1 billion. The automaker is aggressively trying to lift the share of its electric SUVs in a market that is dominated by larger rival Tata Motors, as the government pushes to grow EV sales to 30% by 2030 from less than 2% on Thursday