Tata Chemicals Ltd may buy the battery materials business of London-based Johnson Matthey. This deal can provide an edge to the Tata group in the fast-growing EV market.
EV is future
A deal could be struck at a valuation of $500-700 million, a media report said. Johnson Matthey’s battery materials and solutions are accepted globally
The deal will help Tata Motors expand its range of EVs. Tata will also be able to reduce the manufacturing cost of its EVs. It will also create an additional source of revenue for the conglomerate.
