M&M to invest ₹ 3,000 crore on electric vehicle business in next 3 years
3 years, 8 months ago

M&M to invest ₹ 3,000 crore on electric vehicle business in next 3 years

The Hindu  

Mahindra & Mahindra Ltd will put in fresh investments to the tune of ₹ 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a top company official. "So, for EVs we are going to invest Rs 3,000 crore additional to what we have talked about," Mahindra Group Managing Director and CEO Anish Shah told PTI. Mr. Shah, who recently took over as Managing Director and Chief Executive Officer with the mandate to have a complete oversight of and responsibility for all the Mahindra Group businesses, said the fresh investment "is over and above that". We have capabilities in Detroit.we have capability in Automobili Pininfarina and our Formula E," Mr. Shah said adding those are going to combine to get an electric platform for India.

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History of this topic

Electric journey helps Tata Motors, Mahindra become first to win auto PLI
Trending News
1 week ago

Electric journey helps Tata Motors, Mahindra become first to win auto PLI

Live Mint  

Tata Motors Ltd and Mahindra and Mahindra Ltd on Thursday became India's first automakers to secure production incentives for the automotive sector, marking a key moment for the scheme that had a tepid start. The two companies have received approval for claims worth ₹246 crore under the Production-Linked Incentive Auto scheme, the heavy industries ministry said. Read this | Why …

M&M amazed the world by becoming the World’s 11th largest automaker: Anand Mahindra
3 weeks, 2 days ago

M&M amazed the world by becoming the World’s 11th largest automaker: Anand Mahindra

Live Mint  

New Delhi, December 17 : When India started as an independent automaker, the world believed that there was very little chance of survival, said Mahindra Group Chairman Anand Mahindra on Tuesday. He shared his views after Mahindra & Mahindra automaker achieved a remarkable milestone by becoming the 11th largest automaker in the world by market capitalization, reaching USD 43.12 billion. …

Mahindra closes in on Tata Motors as EV sales falter
3 weeks, 3 days ago

Mahindra closes in on Tata Motors as EV sales falter

Live Mint  

Mahindra & Mahindra has surpassed Tata Motors as India’s third-largest carmaker thrice in the second half of 2024 on new launches at a time cooling electric vehicle sales and an ageing line-up have hurt the fortunes of the Tata Group company. Tata Motors’ market share, driven by the Nexon EV, peaked at just over 14% in March but its performance …

M&M to sell EVs through existing sales network to offer all choices under one roof
1 month, 1 week ago

M&M to sell EVs through existing sales network to offer all choices under one roof

Live Mint  

New Delhi, Dec 1 Mahindra & Mahindra will utilise its existing sales network to sell its electric vehicle range as the automaker looks to offer all the choices to customers under one roof, according to a top company executive. The Mumbai-based automajor, which sells models like Thar and Scorpio, has now expanded its electric vehicle range with the launch of …

Mahindra bets on premium electric SUVs to boost market share
1 month, 1 week ago

Mahindra bets on premium electric SUVs to boost market share

Deccan Chronicle  

With its smaller SUV, Mahindra will enter India's fast-growing compact SUV market, which grew nearly 20% in the first six months of the current fiscal year and is dominated by Hyundai's Creta SUV and Toyota's Urban Cruiser Hyryder SUV. Mumbai-based Mahindra, second largest SUV maker in volumes, introduced the smaller sporty BE 6e and luxurious XEV 9e electric SUVs priced …

Can M&M’s new electric vehicles help it overcome industry hurdles?
1 month, 1 week ago

Can M&M’s new electric vehicles help it overcome industry hurdles?

Live Mint  

Mahindra & Mahindra Ltd has widened its electric vehicle portfolio with the launch of two new models – BE 6e and XEV 9e. The two new models will have a combined annual manufacturing capacity of 90,000 vehicles, or about 10% of M&M’s estimated sales of 900,000 units in FY25. Fast charging, slow infra The two new models have a battery …

Mahindra & Mahindra Q2 net profit rises 35% to ₹3,171 crore
2 months ago

Mahindra & Mahindra Q2 net profit rises 35% to ₹3,171 crore

The Hindu  

Mahindra & Mahindra Ltd reported 35% growth in consolidated net profit at ₹3,171 crore for the second quarter ended September 30, 2024, as compared with ₹2,348 crore in the year-ago period due to strong performance of all its businesses. Services business delivered 1.8 times net profit as compared to the year ago period, the company said. The auto business reported …

M&M Q2 results: Net profit rises 35% to ₹3,171 crore, revenue up 10% YoY
2 months ago

M&M Q2 results: Net profit rises 35% to ₹3,171 crore, revenue up 10% YoY

Live Mint  

Mahindra & Mahindra Ltd on Thursday, November 7 reported a 35% year-on-year jump in its consolidated net profit to ₹3,171 crore for the second quarter of FY25. Meanwhile, the auto major's consolidated revenue from operations grew 10% YoY to ₹37,689 crore in Q2 FY24 from ₹34,281 crore in Q2 FY24. Automobile Segment Mahindra’s Auto segment revenue in Q2 FY25 grew …

Despite higher margins and top-line, M&M net slips 5.3 per cent to Rs 2,613 crore
5 months, 1 week ago

Despite higher margins and top-line, M&M net slips 5.3 per cent to Rs 2,613 crore

New Indian Express  

MUMBAI: The homegrown automaker Mahindra and Mahindra has reported a marginal 5.3 percent year-on-year fall in standalone net in the June quarter at Rs 2,613 crore despite a healthy topline growth and robust margins. The company said its market share from a revenue angle in the SUV segment rose at 21.6 percent, up 130 bps, and in tractors it retained …

Mahindra & Mahindra records sharpest intraday fall in 28 months, plunges over 7%
5 months, 4 weeks ago

Mahindra & Mahindra records sharpest intraday fall in 28 months, plunges over 7%

Hindustan Times  

Shares of Mahindra and Mahindra fell 7.3 per cent to ₹2,711.75 on the BSE today. With this, the stock of the automobile company recorded its sharpest intraday fall in the past 28 months. In past eight months, the stock M&M has appreciated by 92 per cent and in the current calendar year 2024, it has rallied 70 per cent. Mahindra …

Mahindra & Mahindra share price jumps over 7% to record high after Q4 results
7 months, 3 weeks ago

Mahindra & Mahindra share price jumps over 7% to record high after Q4 results

Hindustan Times  

Mahindra & Mahindra share price: The share price of Mahindra & Mahindra rose 7 per cent today as analysts remained bullish on the stock and raised the target price following the company's robust Q4 results. The brokerage retained its ‘Buy’ rating and raised M&M share price target to ₹2,760 per share from ₹2,380 earlier. Emkay Global Financial Services upgraded FY25E …

M&M shares jump over 5% to record high on supply deal with Volkswagen
10 months, 3 weeks ago

M&M shares jump over 5% to record high on supply deal with Volkswagen

Live Mint  

Mahindra & Mahindra share price rallied over 5% to a 52-week high after the company signed a supply agreement for Volkswagen components to be used in its electric vehicles. The agreement between Volkswagen Group and M&M is for the supply of components of Volkswagen’s MEB for Mahindra’s purpose-built electric platform INGLO. Mahindra plans to launch five all-electric SUVs in India …

M&M Q3: Automaker Logs Net Profit Growth Of 34 Per Cent On Strong Sales
10 months, 3 weeks ago

M&M Q3: Automaker Logs Net Profit Growth Of 34 Per Cent On Strong Sales

ABP News  

Automaker Mahindra & Mahindra clocked a 34 per cent jump in its consolidated profit on a year-on-year basis in its third quarter earnings on Wednesday. The vehicle sales of the firm grew 20 per cent to 2,11,443 units sold in the October-December quarter in the current fiscal year, against 1,76,094 units sold in the corresponding quarter a year earlier. At …

Mahindra & Mahindra Q3 net profit surges 60 per cent YoY to Rs 2,454 crore, revenue rises 16 per cent
10 months, 3 weeks ago

Mahindra & Mahindra Q3 net profit surges 60 per cent YoY to Rs 2,454 crore, revenue rises 16 per cent

India TV News  

Mahindra & Mahindra, the manufacturer of the 'Scorpio' SUV, reported a smaller-than-expected increase in third-quarter profit on Wednesday. The standalone profit after tax for Mahindra & Mahindra rose by 60.6 per cent to Rs 2,454 crore in the three months ending December 31. Farm has gained market share despite tough market conditions," M&M Managing Director & CEO Anish Shah said. …

India-Japan Fund to invest ₹400 cr in Mahindra Last Mile Mobility
11 months, 4 weeks ago

India-Japan Fund to invest ₹400 cr in Mahindra Last Mile Mobility

Live Mint  

Bengaluru: The India-Japan Fund on Thursday said it will invest ₹400 crore in Mahindra Last Mile Mobility Ltd, a subsidiary of Mahindra & Mahindra, valuing the company at ₹ 6,600 crore. The India-Japan Fund, managed by the National Investment and Infrastructure Fund Ltd and with a corpus of ₹ 4,900 crore, has the Japan Bank of International Cooperation and the …

M&M accelerates ‘Born EV’ plans, to expedite launches
1 year ago

M&M accelerates ‘Born EV’ plans, to expedite launches

Live Mint  

Homegrown automaker Mahindra & Mahindra is expediting its plans to launch its ground-up electric vehicles, with four brand-new electric sport utility vehicles expected to be launched by the first quarter of calendar year 2025, persons in the know told Mint on condition of anonymity. The company is looking to advance its EV launch plans as it is eager to kick-off …

We challenge OEMs to invest in India, compete with us: M&M's Anish Shah
1 year, 1 month ago

We challenge OEMs to invest in India, compete with us: M&M's Anish Shah

Live Mint  

New Delhi: As talks of an imminent import duty cut on electric vehicles intensifies, Mahindra Group managing director and chief executive Anish Shah on Friday told Mint that it would like to “throw open a challenge" to global carmakers to “invest in India and compete with us", responding to a query on how such a decision would impact domestic original …

Mahindra net profit jumps 14% to Rs 1,528 crore
1 year, 10 months ago

Mahindra net profit jumps 14% to Rs 1,528 crore

Deccan Chronicle  

Pune: Mahindra and Mahindra, the SUV specialist and tractor maker, on Friday reported a 13.5 per cent jump in its standalone net profit at Rs 1,528 crore during the December quarter, up from Rs 1,335 crore in the same quarter of the previous fiscal. The Mumbai-based automaker’s revenue from operations was up 41 per cent at Rs 21,654 crore from …

Mahindra & Mahindra Q3 Results: PAT Rises 14 Per Cent To Rs 1,528 Crore On Robust Sales
1 year, 10 months ago

Mahindra & Mahindra Q3 Results: PAT Rises 14 Per Cent To Rs 1,528 Crore On Robust Sales

ABP News  

Mahindra & Mahindra on Friday logged a 14 per cent rise in its profit after tax to Rs 1,528 crore for the third quarter ended December 2022, driven by robust sales. M&M revenue surged 41 per cent to Rs 21,654 crore for the third quarter compared to Rs 15,349 crore in the year-ago period. Tractor sales rose 14 per cent …

Mahindra to invest Rs 10,000 crore for EV manufacturing facility in Pune
2 years ago

Mahindra to invest Rs 10,000 crore for EV manufacturing facility in Pune

India Today  

Mahindra and Mahindra Limited has announced that the company’s investment towards electric vehicle manufacturing infrastructure in Pune has been approved by the Maharashtra Government. The investment of Rs 10,000 crore has been approved by the Maharashtra Government’s industrial promotion scheme for electric vehicles. Through this investment, Mahindra aims to set up a manufacturing facility for electric vehicles in Pune where …

Mahindra in talks to raise up to $500 million for EV push: Report
2 years, 3 months ago

Mahindra in talks to raise up to $500 million for EV push: Report

Live Mint  

Indian automaker Mahindra & Mahindra is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles, a source with direct knowledge of the matter told Reuters. Mahindra told Reuters in a statement it has committed to investing $500 million in the electric SUV space along with BII, and that …

Time ripe to enter electric 4-wheeler space, says Anand Mahindra
2 years, 4 months ago

Time ripe to enter electric 4-wheeler space, says Anand Mahindra

Hindustan Times  

With increased consumer awareness and government support in place, it is the opportune time to enter the electric passenger vehicle segment, Mahindra Group Chairman Anand Mahindra said on Monday. "Today with government support, rapid lowering of the cost of ownership and increased consumer awareness of environmental awareness issues, we believe that the time is ripe and right for us to …

First EV by Mahindra their Future Plans, Everything You Should Know
2 years, 4 months ago

First EV by Mahindra their Future Plans, Everything You Should Know

News 18  

The Mahindra e2o was an electric car produced between 2016 and 2019 by Mahindra Electric for the Indian market. In 2001, Maini launched the Reva, a two-seater electric car for Indian roads. Not many know this but India’s electric vehicles journey had an early start with Bijlee, made by Mahindra & Mahindra way back in 1999. M&M today is working …

M&M Q1 profit up 67%, records highest quarterly revenue for farm, auto segments
2 years, 5 months ago

M&M Q1 profit up 67%, records highest quarterly revenue for farm, auto segments

Live Mint  

Mahindra and Mahindra reported Q1 FY23 results on Friday in which its standalone net profit rose more than 67% to ₹1,430 crore as compared to ₹855 crore year-on-year. The tractor manufacturer said that it record highest ever quarterly standalone revenue for Auto and Farm Segments during Q1 at ₹18,995 crore. Farm equipment revenue increased by nearly 26% at ₹6,689 crore …

Mahindra’s EV play revs up interest
2 years, 5 months ago

Mahindra’s EV play revs up interest

Live Mint  

Mahindra and Mahindra Ltd ’s announcement of incorporating a whollyowned subsidiary, EVCo, in agreement with British International Investment, is a stepping stone on its electric vehicle journey. This gives meaningful value to M&M’s EV business, which has otherwise been ascribed little value, according to analysts at Jefferies India. Any concern on the substantial funding needed for its EV business is …

Struggling with hard decisions? Anand Mahindra on how to see the ‘big picture’
2 years, 9 months ago

Struggling with hard decisions? Anand Mahindra on how to see the ‘big picture’

Live Mint  

It is a widely believed notion that when dealing with making hard decisions in life, taking inspiration from nature might is the way to go. The tech savvy Mahindra took to Twitter on Tuesday to share that it really helps to imagine you’re on top of Everest with an unobstructed view of the world and how doing this helps one …

Ford Motor and Mahindra Call off Joint Venture due to Challenges Caused by Covid-19 Pandemic
4 years ago

Ford Motor and Mahindra Call off Joint Venture due to Challenges Caused by Covid-19 Pandemic

News 18  

Ford Motor Co said has said that it was calling off its automotive joint venture with India’s Mahindra and Mahindra Ltd due to the challenges caused by the COVID-19 pandemic. In October 2019, Ford and Mahindra said they would form a joint venture in India in a move to cut costs for developing and producing vehicles for emerging markets. The …

Ford-Mahindra Rs 1,925 crore auto JV scrapped, Ford to continue independent operations in India
4 years ago

Ford-Mahindra Rs 1,925 crore auto JV scrapped, Ford to continue independent operations in India

India Today  

Ford Motor Company and Mahindra & Mahindra have "mutually and amicably" ended discussions to create a Rs 1,925 crore automotive joint venture that was announced in October 2019. "Ford Motor Company and Mahindra & Mahindra have mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies," the American automaker said. According to …

M&M Merges Its Multi-Brand Service and Used Car Business 'Mahindra First Choice' With TVS
4 years, 1 month ago

M&M Merges Its Multi-Brand Service and Used Car Business 'Mahindra First Choice' With TVS

News 18  

Mahindra & Mahindra Ltd on Thursday announced a share swap deal with TVS Automobile Solutions Pvt Ltd to merge its multi-brand car and two-wheeler service venture — Mahindra First Choice Services Ltd — with TASL. On the other hand, TASL will acquire the entire stake of Mahindra Holdings Ltd, a wholly-owned subsidiary of M&M, in Mahindra First Choice Services Ltd …

M&M to invest ₹100 crore, double jobs at Telangana plant by 2024
4 years, 1 month ago

M&M to invest ₹100 crore, double jobs at Telangana plant by 2024

Live Mint  

Mumbai: Mahindra & Mahindra Ltd., India’s largest tractor manufacturer, plans to invest an additional ₹100 crore at its Zaheerabad plant in Telangana to gear up to produce the new K2 series of tractors at the unit, the company said on Tuesday. The company, which also is the only tractor manufacturer in Telangana, has already invested close to ₹1,087 crores at …

Mahindra Reports 14.5 Percent Decline in Overall Sales, Sells 44,359 Units in October
4 years, 2 months ago

Mahindra Reports 14.5 Percent Decline in Overall Sales, Sells 44,359 Units in October

News 18  

Mahindra & Mahindra on Sunday reported a 14.5 per cent fall in its overall sales in October at 44,359 vehicles. The passenger vehicle segment of the company which includes utility vehicles, cars and vans recorded a 1 per cent growth in sales at 18,622 vehicles last month, M&M said in a statement. Its utility vehicle segment, however, witnessed a 3 …

Mahindra, REE Automotive sign deal to develop electric CVs for global markets
4 years, 4 months ago

Mahindra, REE Automotive sign deal to develop electric CVs for global markets

India Today  

Mahindra and Mahindra today signed a memorandum of understanding with Israel-based e-mobility firm REE Automotive for developing and manufacturing electric commercial vehicles for global markets. "The competitive advantages of REE's corner modular architecture with our experience in conventional vehicle system design, engineering, sourcing ecosystem and significant production capacity, provides a perfect match to deliver exciting zero-emission vehicles, including autonomous vehicles, …

Mahindra draws $423 mn turnaround plan for struggling South Korean unit Ssangyong Motor Co; to make it profitable by 2022
4 years, 10 months ago

Mahindra draws $423 mn turnaround plan for struggling South Korean unit Ssangyong Motor Co; to make it profitable by 2022

Firstpost  

Mahindra rescued Ssangyong from near-insolvency in 2010, acquiring a majority stake, but despite several attempts, it has struggled to revive the SUV maker’s fortunes. Mumbai: Automaker Mahindra & Mahindra will invest $423 million to turnaround its struggling South Korean unit Ssangyong Motor Co and make it profitable by 2022, a senior company executive told reporters in Mumbai on Tuesday. Ssangyong, …

M&M rejigs top management in auto, farm divisions; Rajan Wadhera to step down from executive role
5 years ago

M&M rejigs top management in auto, farm divisions; Rajan Wadhera to step down from executive role

Firstpost  

New Delhi: Homegrown auto major Mahindra & Mahindra on Monday announced a rejig of its top management in automotive and farm equipment sectors with its President for auto vertical Rajan Wadhera set to retire and step down from the executive role. It further said Hemant Sikka will head the farm equipment sector, while R Velusamy will be appointed as the …

Mahindra takes the wheel of Ford’s India business
5 years, 3 months ago

Mahindra takes the wheel of Ford’s India business

Live Mint  

Mumbai: Ford Motor Co. will cede control of most of its India operations to Mahindra and Mahindra Ltd, underscoring the US company’s long-drawn struggles to make a bigger dent in the world’s fourth-largest automobile market. Ford will transfer its entire business in India, barring an engine plant in Sanand, Gujarat, and its Chennai-based Global Business Services unit, to a new …

Mahindra and Mahindra's sales fall 25% in August
5 years, 4 months ago

Mahindra and Mahindra's sales fall 25% in August

India TV News  

Homegrown auto major Mahindra and Mahindra on Sunday reported a 25 per cent fall in total sales to 36,085 units in August. In the domestic market, sales were down 26 per cent to 33,564 units last month, compared to 45,373 units in August 2018. In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 13,507 …

M&M plans to roll out three new electric vehicles; with 'tectonic shift' in auto industry, time ripe for shift, says Anand Mahindra
5 years, 5 months ago

M&M plans to roll out three new electric vehicles; with 'tectonic shift' in auto industry, time ripe for shift, says Anand Mahindra

Firstpost  

The task of going all EVs is achievable and India has the potential to become a hub for these vehicles, said Chairman Anand Mahindra. Mumbai: Mahindra & Mahindra, which reported on Wednesday a 52.56 percent decline in consolidated profit after tax to Rs 894.11 crore in the first quarter ended 30 June due to lower volume growth, has said it …

Auto firms take cue from govt, gear up for future beyond petrol, diesel
5 years, 5 months ago

Auto firms take cue from govt, gear up for future beyond petrol, diesel

Live Mint  

Automobile and other companies in India are following through on the government’s push to turn the country into a global manufacturing hub for electric vehicles by announcing plans to tap this emerging market. Hyundai Motor Co., India’s second-largest carmaker, plans to set up a lithium-ion battery manufacturing plant for its affordable electric vehicles designed for the Indian market. Seon Seob …

Mahindra, Ford sign agreement to jointly develop new midsize SUV
5 years, 8 months ago

Mahindra, Ford sign agreement to jointly develop new midsize SUV

India Today  

Mahindra Group and Ford Motor Company today signed an agreement to jointly develop a midsize sports utility vehicle. 2019 Ford Endeavour facelift Mahindra launched its compact SUV, XUV300, in India on February 14, while Ford introduced 2019 Endeavour facelift here on February 22 and 2019 Figo facelift on March 15. The strategic alliance between the two companies is focused on …

₹10,000-crore India EV policy seen as the spark the industry needs
5 years, 10 months ago

₹10,000-crore India EV policy seen as the spark the industry needs

Live Mint  

New Delhi: The announcement of the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme on Thursday, with an outlay of ₹10,000 crore for a period of three years, has been welcomed by automakers that were waiting for a signal before committing huge investments in electric mobility. Government support for FAME-2 is holistic and includes …

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