Morning Buzz: Flipkart plans to raise $1 billion; Tata Motors projects volume growth for EVs, and more

Ecommerce giant Flipkart is planning to raise $1 billion, with parent Walmart committing to inject $600 million. Photo Illustration: Soumyabrata Roy/NurPhoto via Getty Images

 

Flipkart plans to raise $1 billion, Walmart commits $600 million

Ecommerce giant Flipkart is planning to raise $1 billion, with parent Walmart committing to inject $600 million. This would be Flipkart’s first fund raise since 2021, when it had closed a $3.6 billion funding round. The fresh funding will move towards existing line of businesses. The investment is significant as it comes during the funding winter when most startups and ecommerce ventures have found it difficult to raise fresh funding.

(Economic Times, Moneycontrol)

EVs to see 30-40 percent rise in volume growth in 2024: Tata Motors

Electric vehicles (EVs) could see a 30-40 percent jump in volume sales in the New Year, said Shailesh Chandra, managing director of Tata Motors’ passenger vehicles and EV segment. Domestic sales could reach 95,000 units by 2023-end and demand is going to improve as charging points increase and the price of vehicles becomes more attractive. Dealers and companies manufacturing EVs are lining up heavy discounts, ranging from Rs 60,000 to Rs 4 lakh, for various brands.

(Business Standard)