Mahindra & Mahindra Ltd., a leader in automotive, farm, and services businesses, and Temasek, the Singapore-headquartered global investment firm, have executed a binding agreement for Temasek to invest INR 1,200 crore into MEAL (Mahindra Electric Automobile Limited), the four-wheeler (4W) passenger electric vehicle company. Temasek will invest INR 1,200 crore in the form of Compulsorily…
Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, announced that their investment of Rs. 10,000 Crore for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles. The company, through its subsidiary, will make investments of approx. Rs. 10,000 Crore over a period of 7-8 years…
British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) have executed a binding agreement to invest up to Rs. 1,925 crores each into a wholly owned subsidiary of M&M that will be newly incorporated (“EV Co.”). BII will invest up to Rs 1,925 crores in the form…
Mahindra Electric Mobility CEO and MD, Mahesh Babu, is stepping down from the role to pursue interests outside the company, according to ETAuto report. Consequently Suman Mishra, Sr VP, Business transformation, Insight and Analytics , automotive sector will take over as chief executive of MEML and chief executive designate of Last Mile Mobility business with…
Mitsubishi Mahindra Agricultural Machinery (MAM) has appointed Toru Saito as its president and CEO. In the new role, he will also be a representative director on the board of MAM. Saito has more than 33 years of experience with Nissan Motors and Audi Japan. While working with Nissan, he held various leadership positions in Japan,…
Mahindra Group announced the setting up of Mahindra Advanced Design Europe (M.A.D.E) in the West Midlands, U.K. The new Centre of Excellence (CoE), will be a part of the Mahindra Global Design Network that includes the Mahindra Design Studio in Mumbai, India, and Pininfarina Design in Turin, Italy. M.A.D.E is a strategic enhancement of Mahindra’s…