December 22, 2017 10:55 pm | Updated January 31, 2018 10:42 am IST - COIMBATORE
Jayem to use Tata funds to develop EV drives
Jayem Automotives has transferred the ₹10 crore, contributed to it by Tata Group’s chairman emeritus Ratan N. Tata, to a technology firm that will develop electric drive systems. The contribution was made in February for early development of electric cars and was held as preference shares by Jayem. With opportunities expanding, Jayem said it had decided to form a separate entity using the funding.
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