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
Hero Electric (HE) is different from Hero Motocorp that we all know. HE belongs to Vijay Munjal, the cousin brother of Pawan Munjal and is currently run by Vijay’s son Naveen Munjal. HE was amongst the 1st ones to have targeted EV space in India – working on it for last 15 years. Currently there … Read more
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, 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
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
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
The Company has been planning to enter this segment for last 2 years. Reason – asset light model of growing business. The Company claims that the same got delayed due to the Covid pandemic. However, now it may enter into this soon as Company is bullish on revenge travel and expect the demand to pick … Read more
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
Little more than a year… it has already raced ahead of Mahindra and is now number 4th in market share