ALSO READMahindra to invest $1 bn in US in 5 yrs, seeks to double American revenues Taxi aggregators, GST, self-driving cars to impact industry: Goenka Mahindra's R&D expenditure up 26 times in 13 yrs, revenue grows 10 times IIT Madras targets to have 100 foreign faculties in three years Mahindra unveils growth strategy for electric vehicles business
Mahindra has invested $1 billion in the US market to date, employing about 3,000 Americans and generating annual revenue of $2.6 billion, Xinhua news agency cited Mahindra and Mahindra, Managing Director Pawan Goenka as saying.
Goenka said the company plans to invest another billion dollars in the next five years as well as doubling its US headcount as it looks to expand operations.
Also on Monday, the group's e-bike and e-scooter brand GenZe announced the partnership with the logistics platform Postmates to bring zero-emission transportation solutions to New York City and San Francisco.
With an initial deployment of the GenZe 2.0e model e-Scooter and e-Bike in the countries' major delivery markets, Postmates plans to expand the partnership to additional locations in its more than 200-city network over the next year.
The electric vehicles will help couriers to speed up delivery by about 20 per cent.
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