British International Investments (BII) has reinforced its commitment to India’s green mobility transformation by making an additional investment of INR 650 crore in Mahindra Electric Automobile Ltd (MEAL). This marks the fulfillment of BII’s 2022 pledge to support sustainable growth and tackle climate change through advancements in the electric vehicle (EV) sector.
This funding aligns with BII’s broader strategy to promote EV development and sustainability initiatives in India. The investment was made through BII India EV, in collaboration with other major climate-focused investors such as the Asian Infrastructure Investment Bank (AIIB), OP Finnfund Global Impact Fund I, and Finnfund. This collaborative effort underscores BII’s commitment to advancing clean energy solutions in India.
Despite this new investment, MEAL’s shareholder structure remains unchanged. The key stakeholders—Mahindra & Mahindra, Temasek, BII, and BII India EV LP—continue to retain their respective shares in the company.
This latest tranche of funding represents a significant milestone in achieving the broader objectives outlined in 2022. It also highlights the growing confidence of investors in India’s EV sector, which is a crucial component of the country’s sustainability goals. The investment will contribute to reducing carbon emissions and promoting electric mobility, further aligning with India’s push toward a greener and more sustainable future.