British International Investment (BII), the UK’s development finance institution, has fulfilled its 2022 commitment to India’s electric vehicle (EV) sector with an additional investment of INR 650 crore in Mahindra Electric Automobile Limited (MEAL). This investment is part of a broader initiative to mobilize international funding for India’s EV industry, according to a press release […]
Mahindra & Mahindra Ltd. has inaugurated a new manufacturing and battery assembly facility dedicated to its Electric Origin SUV line at its Chakan plant. The facility is part of the company’s strategy to enhance electric vehicle (EV) production capabilities and advance its sustainable manufacturing goals. Located within the 2.83 km² Chakan manufacturing hub, the new […]
The Ministry of Heavy Industries has approved ₹246 crore in incentives for Tata Motors and Mahindra & Mahindra (M&M) under the production-linked incentive (PLI) scheme for the financial year 2023-24. The incentives recognize sales of electric vehicles and components under the government’s initiative to promote advanced automotive technologies. Tata Motors received ₹142 crore in incentives […]
Mahindra & Mahindra Limited has announced the incorporation of Target Hybren Private Limited, a wholly-owned subsidiary of Mahindra Susten Private Limited (MSPL). This new subsidiary was registered on December 6, 2024, in Mumbai, Maharashtra. MSPL is itself a subsidiary of Mahindra Holdings Limited, which is fully owned by Mahindra & Mahindra. The authorized and paid-up […]
Mahindra & Mahindra Limited has announced its financial results for the second quarter (Q2) and the half-year ending September 30, 2024. The company reported a consolidated profit after tax (PAT) of ₹3,171 crore for Q2, reflecting a 35% year-over-year increase from ₹2,348 crore in Q2 of the previous year. Consolidated revenue for the quarter rose […]
Mahindra & Mahindra (M&M) has inaugurated two new testing facilities in Kanchipuram, Tamil Nadu, aimed at enhancing SUV safety and advancing battery technology. These facilities, including a passive safety lab and a battery and cell research lab, represent an investment of over ₹300 crore, according to a press release issued by the company. The passive […]