M&M showcases its vision for EVs. Too early to make much out of it.

M&M on August 15, 2022 announced the following – Inauguration of EV design studio in UK – Mahindra Advanced Design Europe (M.A.D.E) at Banbury, Oxfordshire. Its primary objective is to conceive the future Mahindra EV portfolio and the advanced vehicle concepts M.A.D.E shares the campus with the Mahindra Formula E team and forms a part … Read more

Macquarie seeks funds to set up EV leasing co

Macquarie Group, one of the largest foreign infrastructure investors in India, is in talks with commercial investors to raise $205 million to set up an electric vehicle (EV) leasing and finance company, said two people aware of the development. The India-focused e-mobility financing platform will be managed by Macquarie Asset Management, which has assets of … Read more

M&M benchmarks to Tata. Does a token fund raise in the EV business.

After Tata Motors doing it last year, M&M going for external fund raise in the EV business was widely expected. The Company has now announced raising Rs 1,925 crore from British International Investment Plc (BII) for the same. BII (formerly CDC Group plc) is the Development Finance Institution of the UK Government and invests between … Read more

M&M wants to merge EV tech arm with itself. Confusing.

As per newspaper report, M&M is seeking approval from National Company Law Tribunal for a merger of Mahindra Electric Mobility Ltd (MEML) with itself. Rationale given Consolidation of the complete value chain of Electric Vehicle (EV) development, manufacturing and sales. MEML has expertise in EV technology while M&M has expertise in automotive design, engineering and … Read more

Greaves Cotton raises significant money in EV subsidiary

Money is being raised by Greaves Electric Mobility (GEM), currently a 100% subsidiary of Greaves Cotton Limited (GCL). It has got total commitments of $220 mn from Abdul Latif Jameel (ALJ), a family-owned diversified business founded in Saudi Arabia in 1945. Key points to note – ALJ is a leading distributor of Toyota products for … Read more

Indi Energy bets on locally-developed sodium-ion battery technology to win EV race

‘Batteries are developed using agro-waste such as rice straw and cattle manure’ Indi Energy, a start-up working on battery technology, said its indigenously developed Sodium-ion batteries are the answer to curbing the cases of fire accidents involving electric vehicles (EVs) in the country. “We believe in a sustainable tomorrow and with this vision, we have … Read more

Endurance announces 1st acquisition targeted at the EV opportunity

Electric Vehicles (EV) is a hot theme nowadays. No one wants to be left behind. Endurance Technologies Limited (ETL) has joined the list and is acquiring 100% of Maxwell Energy Systems Private Limited (Maxwell). Key points to note – Maxwell is a Mumbai based wholly owned subsidiary of a US company, ION Energy Inc. (“ION”) … Read more

MG eyes 2nd factory, Rs 5,000 crore raise

Hamstrung by lack of government approvals for its FDI plans, British carmaker MG Motors — a subsidiary of Chinese auto major SAIC — plans to raise up to Rs 5,000 crore through external commercial borrowings (ECBs) or private equity route as it looks to set up a second factory in India, while launching new cars, … Read more