Mahindra logistics to acquire majority stake in Whizzard

Mahindra Logistics (ML) has announced strategic investment into Zipzap Logistics Pvt Ltd. Key points to note – Founded in 2018 and headquartered in Hyderabad, ZipZap is a tech enabled last-mile delivery logistics company operating under the brand name Whizzard.  Total deal value is Rs 71.7 crore in lieu of which ML will get 60% stake … Read more

Mahindra Finance predicts big improvement in asset quality by March end

Mahindra and Mahindra Financial Services (MMFS) continues to sound very positive on the asset quality and has predicted big improvements. Key points to note – As at December 31, 2021, its Gross NPA (GNPA) as per IND-AS was 11.30% and as per IRACP at 14-15%. (IND-AS are the accounting norms and IRACP is RBI’s Prudential … Read more

Mahindra announces mileage guarantee on BS6 trucks. Marketing gimmick?

In case a customer chooses to return the truck, the ex-showroom price of the truck will be refunded after all the requirements are fulfilled as per the terms and conditions. Key points to note – Mileage guarantee is being offered on the entire BS6 truck range from 3.5 tonne till 55 tonne, including Blazo X … Read more

Classic Legends to bring Yezdi bikes back on Indian roads after 25-year gap

Classic Legends, the motorcycle company part-owned by Mahindra Group re-launched the Yezdi brand of classic motorcycles for the Indian market on Thursday. The brand is making a comeback to India after a two and half decade hiatus and part of a larger strategy to tap into the fast expanding mid-market segment (350cc to 600cc) in … Read more

Mahindra-owned SsangYong Motor sold to a consortium for $255 mn

A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday. SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21% from a year earlier, a regulatory … Read more

Mahindra & Mahindra jumps on the EV bandwagon

The automaker who is traditionally knows for fuel guzzling SUVs and CVs has announced it’s intention to diversify towards the Electric Vehicles (EV). Key point to note – The Company targets to launch 8 new Electric SUVs and 8 new Electric Light Commercial Vehicles by 2026. It is targeting to invest Rs 3,000 crore towards … Read more

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

While it has already opened its electric technologies plant in Bengaluru that produces battery packs, power electronics and motors, it has also invested in a new manufacturing unit at its chakan plant to produce EVs. Mahindra & Mahindra Ltd will put in fresh investments to the tune of ₹ 3,000 crore on its electric vehicles … Read more