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Mahindra arm’s Chennai cluster to see Rs 3500 crore investment
Posted on 27th April 2019
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of $20.7 billion Mahindra Group, is expecting an investment of Rs 3,000 crore to Rs 3500 crore from the incoming companies at its just-inaugurated industrial cluster christened ORIGINS in Chennai, when its first phase gets completed with full capacity utilisation.

Mahindra to deploy 50 electric vehicles on Uber's platform in Hyderabad
Posted on 25th April 2019
Indian automobile company Mahindra & Mahindra on Thursday announced the deployment of its electric vehicles (EV) on global ride-sharing platform Uber in Hyderabad. Earlier, Mahindra had announced its strategic collaboration with Uber, to explore the deployment of EVs on its platform in several cities across India.

The two companies will be deploying 50 EVs, which include both e2O hatchback and e-Verito sedan models, in a tie-up with taxi partners such as eee-Taxi to begin with in Hyderabad.

Mahindra, Ford to co-develop mid-sized SUV for India, emerging markets
Posted on 18th April 2019
Mahindra & Mahindra (M&M) and Ford Motor Company on Thursday said they have signed a definitive agreement to co-develop a mid-sized SUV for India and other emerging markets.

The new agreement reinforces the steady progress made since the announcement of a strategic alliance between the two companies in September 2017, followed by an announcement on powertrain sharing and connected car solutions in October 2018.

Mahindra to lead $500 million Series E funding in ZoomCar: Report
Posted on 3rd April 2019
ZoomCar could get a $500 million push from a fresh round of funding (Series E) led by Mahindra, reported Mint. ZoomCar is a self-drive-focused car rental company allowing individuals to rent vehicles by the hour, day, and week.

The company has raised $103.8 million as yet, according to CrunchBase. Last year, M&M had pumped in up to Rs 176 crore in Zoomcar India and Zoomcar Inc, its US incorporated holding parent company.

Mahindra launches e-mobility service in Mumbai
Posted on 25th February 2019
New Delhi: Auto major Mahindra & Mahindra (M&M) on Monday said it has launched a technology-based electric mobility service in Mumbai on select routes.

As part of the initiative - Glyd - the company flagged off the first batch of 10 e-Veritos in the city.

Mahindra & Mahindra bets on new product portfolio for Ssanyong Motor Co turnaround
Posted on 21st February 2019
As part of a turnaround strategy for the loss-making Ssangyong Motor Company (SYMC), Mahindra & Mahindra (M&M), which owns 74.65% stake in the Korean automaker, is betting on a new product portfolio to ramp up volumes and increase revenues.

“Losses mean that revenue is less than expenses. Clearly we are working on all the levers that we need to have to reduce the expenses and the main lever is volume.

Mahindra & Mahindra hits 52-week low on tractor guidance cut; stock down 3%
Posted on 11th February 2019
Shares of Mahindra & Mahindra (M&M) hit a 52-week low of Rs 661 per share, down 3 per cent on the National Stock Exchange (NSE) in early morning trade on Monday after the management revised its tractor volume guidance lower to 10 per cent from earlier lower band of 12-14 per cent. It also expects FY20 tractor growth to be in single digits. The passenger vehicles industry is expected to grow at around 5-6 per cent in FY19.

Mahindra & Mahindra net proft rises 12 per cent to Rs 1,505 crore
Posted on 9th February 2019
Mahindra & Mahindra (M&M) on Friday reported a 12% year-on-year (yo-y) rise in consolidated net profits to Rs 1,504.5 crore for the three months to December supported by an increase in other income to Rs 342.28 crore.

Profitability at the automaker took a hit with the Ebitda (earnings before interest, tax, depreciation and amortisation) margins falling by 150 basis points year-on-year to 13.2%. The operating profit was marginally up by 0.7% y-o-y at Rs 1,702.85 crore.

M&M consolidated Q3 net jumps 60% to Rs 1,476 cr, operating margin falls
Posted on 8th February 2019
Mahindra & Mahindra and its subsidiary Mahindra Vehicle Manufacturers reported a 60 per cent YoY rise in their consolidated net profit at Rs 1,476 crore for third quarter (October-December) of FY19.

Revenue for the quarter rose 14 per cent to Rs 13,235 crore, against Rs 11,594 crore in the year-ago quarter.

M&M launches new range of intermediary CVs
Posted on 30th January 2019
Betting on providing better profitability for Intermediary Commercial Vehicle (ICV) customers, Mahindra’s Truck and Bus Division (MTB) on Tuesday launched two models — Furio12 and Furio14 — with a starting price of Rs 17.45 lakh and Rs 18.10 lakh, respectively.

The ICV segment comprising 9-14 tonne gvw (gross vehicle weight) of vehicles sells 1,50,000 units per annum.

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