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Mahindra BE 6 has received the highest points in the 'Adult Occupant Protection' test to date
Having consolidated its position in the domestic market, Mahindra & Mahindra is now looking at ways to expand its presence across international markets, as per a top company executive. The Mumbai-based auto major is looking to scale up its automotive business globally in a phased manner with plans to leverage its existing distribution channels in various overseas markets in the first phase. In an interaction with PTI, Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar said new products like the under-development lifestyle pickup truck and the new range of electric models would allow it to enter new international markets. He noted that the automaker already has a strong presence in countries like South Africa, Australia, New Zealand, Morocco, and Chile with an established distribution network. "A lot of these geographies started for us as markets where we sold Scorpio pick-up. Now these markets are enabling us to launch models ...
Mahindra Group is looking forward to the new year with hope and confidence, driven by its aspiration to achieve growth at scale, according to its CEO & Managing Director Anish Shah . In his new year message to employees of the group, Shah said over the past year the group has accelerated its growth trajectory and its businesses are on an ambitious growth path and are firing on all cylinders. "We look ahead with hope and confidence, driven by our aspiration to achieve growth at scale. We will continue to lead with purpose, to set audacious goals and work with discipline and determination to achieve them," he said. Reflecting on 2024, Shah said, "It has been an incredible year in all dimensions, our performance far surpassed our audacious goals." Crediting the team Mahindra for turning "challenges into opportunities and aspirations into aspirations", he said, "We span sectors that cover nearly 70 per cent of India's GDP, and we are establishing a meaningful presence in each of these
The upcoming Noida International Airport (NIA) on Thursday said it has partnered with Mahindra Logistics Mobility to provide a premium, all-electric taxi service for passengers flying to and from the facility. The round-the-clock and seven days-a-week service will feature premium pick-up and drop-off facilities located at the arrival and departure kerbs, minimising walking distance, NIA said. Passengers will be able to book rides through various channels, including a dedicated mobile app, website, call centre, airline alliances, and airport kiosks. This multi-channel approach will guarantee accessibility and ease of booking for travellers, it said. The fleet will be managed with a focus on real-time dynamic adjustments based on passenger demand and flight schedules, reducing wait times, and extending service availability, NIA said. "We have partnered with Mahindra Logistics Mobility to offer a premium, all-electric taxi service, to provide a seamless and environment-friendly ride .
Mahindra Group firm Mahindra Susten on Wednesday said its wholly-owned subsidiary Martial Solren has secured a term loan of Rs 1,448 crore. The financing will support solar PV power projects being developed under long-term Power Purchase Agreements (PPAs) with key off-takers. Martial Solren, a 100 per cent wholly-owned subsidiary of Mahindra Susten Private Ltd, the clean-tech arm of the Mahindra Group, has successfully secured a rupee term loan of Rs 1,448 crore, a company statement said. The financing documents have been formally executed with HDFC Bank and Axis Bank to support its ambitious 560 MWp solar power projects in Gujarat and Rajasthan, the statement added. Deepak Thakur, Managing Director & CEO of Mahindra Susten, said securing the financial closure for our 560MWp Solar Projects in Gujarat and Rajasthan is an important step for Mahindra Susten. Once completed, the plant is expected to generate approximately 9 lakh MWh of solar energy annually. This output will offset .
Mahindra stated it will rebrand the model from BE 6E to BE 6 but plans to contest IndiGo's claims in court
Meanwhile, as the fight continues in the Delhi High Court, Mahindra said in a statement on Saturday, "We are hence taking the decision to brand our product the BE 6
India's largest airline, IndiGo, told the court that Mahindra had reached out to them on Monday evening to discuss the issue
The company cited the article under the header "Hyundai, Mahindra, 6 others likely to face emission penalties of Rs 7,300 crore."
Mahindra & Mahindra has committed Rs 4,500 crore on the overall development, including the creation of production capacity, for the two new ground-up electric brands, a top company executive said on Wednesday. The Rs 4,500 crore investment is part of the Rs 16,000 crore capex the company has announced for the electric vehicle business between the FY22-27 cycle. The Mumbai-based auto major is creating production of capacity of 90,000 units per annum at its Chakan-based plant for the two ground-up 'Born Electric' models -- BE 6e and XEV 9e. "We have allocated Rs 4,500 crore investment for the two models. The investment would go into the overall development of the electric vehicles," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He noted that the production capacity at Chakan could be further scaled up to 1.2 lakh units per annum. The Mumbai-based auto major on Tuesday unveiled two models -- BE 6e and XEV .
Mahindra Group on Thursday said it is expecting its express business to turn profitable amid its focus on getting back volumes to achieve cost efficiency. It also said the turnaround in the express business will bring the overall profitability in the logistics business. The group's arm Mahindra Logistics Ltd (MLL) acquired the B2B express business of Rivigo in September 2022 and brought it under the MLL Express Services. MLL saw its consolidated profit after tax declining 33 per cent to Rs 10.7 crore in the September quarter from Rs 15.9 crore in the same quarter of the last year. The losses for the Express business were reduced by 32 per cent on a year-on-year basis, driven by continuous cost optimisation, while EBITDA losses came down by 10 per cent on a sequential basis, the company said. The growth in volumes continues to be a key priority for the business as it progresses towards an EBITDA breakeven, it had stated in the statement at the time of the Q2 earnings announcement.
IT services firm Tech Mahindra on Saturday reported a more than two-fold jump in its consolidated net profit to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture & fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a, the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We
All about new Mahindra Thar Roxx: On road price, features, themes and more
India's top six corporate firms saw their employee headcount growth stagnate at -0.2 per cent, with numbers dropping from 1.74 million in FY23 to 1.73 million in FY24
The surge in the stock price followed the company's announcement of the launch of Thar ROXX, its latest sports utility vehicle (SUV).
The Thar Roxx is priced at Rs12.99 lakh for its entry-level model MX-1 (petrol)
When asked about the government's nudge to private companies to invest in new capacities, Shah said the group has already raised its automobile division capacity by 3x in the last four years
India's private sector must utilise government's recently announced schemes, such as support to employers in creating roles for first-time employment and increasing new hires, to propel the country's economy over the next decade, Mahindra Group Chairman Anand Mahindra said on Wednesday. Addressing shareholders at the annual general meeting of Mahindra & Mahindra Ltd (M&M), he reiterated that growth and prosperity must be driven by job creation and it is a collective responsibility of the private sector and the government and broad-based effort is essential for generating employment. He also asserted that increasing employment and skilling are key national priorities, as emphasised by Finance Minister Nirmala Sitharaman in her Budget 2024-25 speech. "While India stands to benefit from the re-orientation of global supply chains in the post-pandemic world, our growth and prosperity must be driven by job creation. It is a collective responsibility, and the Indian private sector ...
PAT excluding last yr's one-off gains rises 20%
Indian companies need to enhance capital investment in order to take advantage of the growth opportunities available in India and abroad, according to Mahindra Group Chairman Anand Mahindra. Addressing shareholders in the company's annual report for 2023-24, the leading industrialist noted that the interplay of geopolitics and economic linkages in the post-COVID era has seen India's position strengthen. India's emerging role as one of the vital nodes in future-proofed supply chains across industries opens the door for growth within the country and expansion beyond, he stated. "How can we, in private industry, ensure that we ride this upsurging tide? ..In the spirit of 'ask not what your country can do for you; ask what you can do for your country', I would argue that the most important thing industry can do at this critical juncture is to increase private investment," Mahindra said. Private capital investment is the key to capitalising on this opportunity as it is a key driver of .