Ratan Tata Invests in E-vehicle startup
The Indian businessman and chairman Emeritus of Tata Sons, Ratan Naval Tata is investing an undisclosed amount in a Coimbatore-based electric vehicle start-up company which was co- founded by a woman entrepreneur. The Coimbatore-based Ampere manufactures electric vehicles including e-scooters, e-cycles and e-three vehicles. The co-founder of Ampere, Hemalatha Annamalai has stated that the funding would be used to scale up the operations and in hiring talent over two years. She also stated that Ratan Naval Tata has made the investments along with Ampere’s existing investor Forum Synergies. Another co-investor in the Ampere’s is the Axon capital based in Spain. The Tata Group chief had been investing in a number of investments like Ola, Snapdeal, Paytm, and Xiaomi since he retired as executive chairman of Tata sons in 2012. And he had also invested in another automobile related start-up Cardekho.com. Currently he serves as the chairman emeritus of Tata Sons which is the holding company of Tata group.
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