M&M KUV1OO

Mahindra Group is looking for partnerships with global players for local production of battery cells in order to cater to expected increase in demand for electric vehicles in the future, according to a top company executive. In an interaction with PTI, Mahindra Group MD and CEO Anish Shah said the company is looking at a 2030 timeframe for the possible listing of its electric vehicle arm Mahindra Electric Automobile Ltd (MEAL). "One area that we continue to look at more closely is cell manufacturing and that is something where there are various considerations... if we feel it's essential for us, we will look at a partnership for cell manufacturing," he stated. He further said: "We will look at a global technology partner, and potentially at private equity partners as well because we will not put the entire capital." The initiative, if it materialises, would enable local production of battery cells in India, Shah said. "..the only reason for us to do it is to indigenise in India. ..

Mahindra & Mahindra Ltd on Thursday said its total vehicle sales grew 15 per cent year-on-year to 73,944 units in January. The utility vehicle sales stood at 43,068 units in the previous month as against 32,915 vehicles sold in January last year, growing 31 per cent year-on-year, M&M Ltd said. The commercial vehicle domestic sales during the month under review stood at 23,481 units, a growth of 8 per cent over 21,724 units in January 2023. Its three-wheeler domestic sales, including electric three-wheelers, fell 14 per cent to 5,649 units compared to 6,562 vehicles sold in the year-ago period, the company said.

Exports for November 2023 were down 42% year-on-year. Year-to-date exports until November 2023 also dropped 17%, reaching 17,986, compared to 21,633 units exported during the same period in FY23

Growth could have been steeper had the fleet segment not got hammered due to the pandemic-induced curbs on public transport

Encouraged by demand pick-up in the past few months, most are going ahead with their planned investments and models

Home-grown auto major Mahindra & Mahindra rolled out on Thursday a subscription-based service for retail buyers of its personal range of vehicles to boost plummeting demand. The vehicles under the scheme, which has initially been launched for its customers in Delhi (NCR), Mumbai, Pune, Bengaluru, Hyderabad, Kolkata, Chandigarh and Ahmedabad, will be available at a subscription price starting from Rs 19,720 per month, the company said in a release. The scheme covers models like KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4, which will be available for a period of one to four years in case of a new car, it said. We are introducing an all-new subscription model for retail customers of our personal vehicles. With this flexible, affordable offering, we hope to help our customers fulfill their aspiration of driving their desired vehicles without necessarily owning them," said Veejay Ram Nakra, chief of sales and marketing for the automotive division at ..

However, electrification of their best-seller, Scorpio is still uncertain