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Mahindra, Ford may firm up pact soon to ride together
Posted on 19th March 2018
Mahindra & Mahindra (M&M) and Ford India are likely to formalise a memorandum of understanding that they signed six months ago and establish a partnership in the coming week to 10 days, according to several people with knowledge of the matter.

They are likely to share vehicle architecture, electric powertrains, common sourcing and leverage each other’s distribution network in the first phase, they said.

Mahindra & Mahindra s heavy duty trucks to end FY18 with record sales
Posted on 10th March 2018
Mahindra and Mahindra expects to conclude the financial year with a record sales of medium and heavy duty trucks, Vinod K Sahay, chief executive officer, Mahindra Truck and Bus Division said at a press briefing.

It plans to deliver 10,000 units by fiscal end, the highest since the company entered the heavy duty segment a decade ago. The maker of Blazo branded trucks sold 6714 units in the corresponding period last year.

Mahindra's North American arm to lead M&M drive into world's hardest market
Posted on 9th March 2018
Almost a decade after Mahindra and Mahindra rode into the US market with its tractors and created the so-called hobby farming segment, the Anand Mahindra-led firm is betting on yet another niche offering to make deeper inroads into the US. The ROXOR, an off-road sports utility vehicle that Mahindra and Mahindra unveiled in Detroit, Michigan, last weekend, could well be automaker’s entry ticket into world’s most competitive and demanding auto market.

M&M partners LG chem for power storage tech
Posted on 28th February 2018
Indian automaker Mahindra & Mahindra and Korean battery manufacturer LG Chem signed a deal to collaborate in the field of advanced lithium-ion power storage technology.

LG Chem will develop a unique cell exclusively for India application and also supply Li-ion batteries based on NMC (nickel-manganese-cobalt) chemistry with high energy density.

M&M's SUV ride could turn bumpy in government's draft auto policy
Posted on 26th February 2018
The government’s decision against formulating an electric vehicle policy may not be good news for Mahindra and Mahindra (M&M), the country’s biggest electric car maker. But a bigger setback could be around the corner for the sport utility vehicle (SUV) major.

The government is considering levying a goods and services tax (GST) cess on passenger vehicles (PV) based on length and carbon dioxide (CO2) emission from FY19 against the current criteria of length and engine capacity.

M&M pact for auto technology
Posted on 22nd February 2018
Calcutta: Close on the heels of picking up a 16 per cent stake in Zoomcar for Rs 176 crore, domestic automobile major Mahindra and Mahindra (M&M) has zeroed in on another automotive technology firm, Carnot Technologies Private Limited.

M&M has signed an agreement to acquire 1,296 equity shares and subscribe up to 6,074 compulsory convertible cumulative preference shares, translating into a 22.9 per cent stake in the Mumbai-based Carnot. The cost of acquisition is estimated at Rs 6.06 crore.

Mahindra leads $40-m investment in Zoomcar
Posted on 17th February 2018
Self-drive car rental start-up Zoomcar has raised $40 million in a Series C funding round led by auto major Mahindra & Mahindra (M&M). The funding round also saw participation from existing investors. M&M will be investing `176 crore for a near 16% stake in the company.

The investment by M&M assumes significance given recent comments by its chairman Anand Mahindra in support of shared mobility.

Mahindra to invest up to Rs176 crore in Zoomcar
Posted on 16th February 2018
New Delhi: Auto major Mahindra & Mahindra (M&M) on Friday said it will invest up to Rs176 crore in car and bicycle rental firm Zoomcar India or Zoomcar Inc., its US incorporated holding parent company.

Under the aegis of the deal, Mahindra Group would invest up to Rs176 crore in Zoomcar India or Zoomcar Inc. which, when converted to common stock of Zoomcar Inc. on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc., the company said in a statement.

M&M plans SUV foray into Iran
Posted on 12th February 2018
Mahindra & Mahindra (M&M) is poised to enter Iran with its XUV500, KUV100 and Scorpio pick-up, attempting to break the dominance of French and other European automakers in the market that has turned stricter in automobile safety and emission norms.

The company has signed an agreement for collaboration with a local business group, which is expected to be materialised later this year.

Mahindra & Mahindra sells 22% stake in JV Mahindra Sanyo for Rs 1.46 bn
Posted on 9th February 2018
Mahindra & Mahindra on Friday said it will sell 22 per cent of its stake in joint venture firm Mahindra Sanyo to Sanyo Special Steel Co Ltd for Rs 1.46 billion (Rs 146.32 crore).

"The company has today agreed to sell 26,36,401 equity shares of Rs 10 each held by the company in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), aggregating 22 per cent of the paid-up equity share capital of MSSSPL, to Sanyo Special Steel Co., Ltd. for a consideration of Rs Rs 1.46 billion," Mahindra & Mahindra (M&M) said in a BSE filing.

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