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Mahindra Group to double US investment by 2022, says Pawan Goenka

The Indian conglomerate has invested $1 bn in US market till date, employs about 3,000 Americans

IANS  |  New York 

Pawan Goenka, managing director, Mahindra & Mahindra Ltd
Pawan Goenka

Indian conglomerate plans to its in the within the next five years, the group's top executives have said.

Mahindra has invested $1 billion in the market to date, employing about 3,000 Americans and generating annual revenue of $2.6 billion, Xinhua agency cited Mahindra and Mahindra, Managing Director as saying.

Goenka said the company plans to invest another billion dollars in the next five years as well as doubling its 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, July 18 2017. 13:35 IST