Mahindra to make an additional investment of over Rs. 500 crore for Electric Vehicles and Electric Vehicle Components in Chakan as part of expansion efforts

mahindra-e2o-reva

Mumbai, February 19, 2018: Mahindra & Mahindra Ltd (M&M Ltd), a part of the US $19 billion Mahindra Group, announced in the presence of the Government of Maharashtra, that it would make an additional investment at its Chakan plant in Maharashtra. As part of its expansion plans, the company will invest over Rs. 500 crores in its Electric Vehicle (EV) Project under the new EV Policy of the Government of Maharashtra.

The investment for EV and EV Components is in addition to its ongoing expansion plan in Chakan which includes an initial investment of Rs. 6,500 crores. This additional investment of Rs. 500 crores will be utilized towards product development and capacity enhancement for electric vehicles and related components.

The MoU was signed by Shri Sunil Porwal, Additional Principal Secretary (Industries), Government of Maharashtra and Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. in the presence of Shri Devendra Fadnavis, Hon’ble Chief Minister, Government of Maharashtra and other dignitaries present at the Magnetic Maharashtra Conference currently underway in Mumbai.

Speaking on the occasion, Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. said, “We are delighted to announce the next phase of our Electric Vehicles expansion plan at Chakan and would like to thank the Government of Maharashtra for its new EV Policy which is a proactive step in electric mobility. The implementation of projects under this EV Policy will certainly make the state a leader in manufacturing of EV and EV components, promoting greater use of these vehicles. We have no doubt that the state will attract large EV related investments and emerge as a front runner in the EV race.”

Dr. Goenka further added, “The Mahindra Group along with Mahindra Electric Mobility Limited (MEML) is at the forefront of promoting electric mobility which could result in a paradigm shift in the passenger commuting segment, considerably mitigating air pollution. I am sure that with this expansion, the Mahindra Group will continue to play an integral part in the development of not only the region of Chakan but the state of Maharashtra, as well as the Indian auto industry, in time to come. We would like to showcase for the whole country the viability and benefits of EV through our EV Project. This is the next step towards the journey of achieving Mahindra’s vision of the “Future of Mobility” and encompasses the “5C” framework of Clean, Convenient, Connected, Clever and Cost effective. We are thankful to the Government of Maharashtra for their continuous and unstinted support.”

About Mahindra

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Source

Advertisements

Mahindra KUV100 sales cross 50,000 units in 15 months

Launched in January 2016, the Mahindra KUV100 entry-level SUV has managed to garner sales of over 50,000 units so far. The brand’s second crossover is positioned in a such a way to lure customers from the B-Segment hatchbacks like the Ford Figo, Maruti Swift, Hyundai Grand i10, Tata Bolt, etc.A tall stance, high seating position, and efficient interior packaging are the crossover’s salient features. The car targets young urban customers.

rgb_0000
Mahindra KUV 100

The KUV100 adopts brand new 1.2-litree three-cylinder petrol and diesel engines. The G80 petrol motor develops 82 bhp at 5,500 rpm and 115 Nm of torque at 3,500 – 3,600 rpm, while the D75 diesel mill is good enough for 77 bhp at 3,750 rpm and 190 Nm of torque at 1,750 – 2,250 rpm. The petrol engine has an ARAI certified fuel efficiency of 18.51 kmpl, while the diesel returns an impressive 25.32 kmpl.

Inside, the crossover features a floating centre console with carries the gear lever. This arrangement makes way for an optional bench seat which takes the seating capacity up to 6 passengers. Equipment highlights include LED daytime running lights, alloy wheels, dual front airbags, ABS with EBD, 6-speed infotainment system with Bluetooth, USB and iPod connectivity, start/stop system and Eco-Power drive modes.

Speaking on the sales milestone, Rajan Wadhera, President, Automotive Sector, Mahindra and Mahindra Ltd. said, “We would like to thank our customers for their support in achieving this milestone for the KUV100. The KUV100 has created an all-new SUV segment in the price range of Rs. 4.5 to 7 lakhs. It combines the appeal of an SUV and the practicality of a compact car, making it a compelling value proposition for buyers. The recent introduction of the new look dual tone KUV100 has also resonated well with our customers and going forward, I am sure that the KUV100 will continue to scale new heights.”

Via Rushlane

Mahindra mulls turning Pininfarina into premium EV brand

SEOUL–India’s Mahindra Group plans to enter the U.S. and China, the world’s two biggest auto markets, with high-end electric vehicles to be made by its Italian auto-design affiliate Pininfarina SpA, the auto giant said.

pininfarina-h2-speed-concept-2016-geneva-motor-show_100562872_m
Pininfarina H2 speed Concept

“We’re exploring right now the potential of building an electric supercar, which will be branded Pininfarina. Certainly, we’re looking to sell it in the U.S.,” Anand Mahindra, chairman of the Mahindra Group, said in an interview.

Mahindra will also will look to enter China, the world’s No. 1 auto market and a good market for high-end performance cars, through Pininfarina, he said.

Mr. Mahindra is in Seoul for the 2017 Seoul Motor Show.

Mahindra Group, a conglomerate that makes airplanes, cars and tractors, acquired the Italian auto-design specialist in 2015 in a EUR25.5 million ($28.1 million) deal to boost its automotive credentials globally.

Best known for a historical relationship with Ferrari NV, Pininfarina’s designs have long been copied by other global auto makers.

Mr. Mahindra said the group aims to enhance its investments and presence in the U.S. largely through its South Korean auto unit, Ssangyong Motor Co.

“Competing in the U.S. is like the old Frank Sinatra song that if you can make it there, you can make it anywhere,” he said. “So when you sell cars in the U.S., it forces you to be the most competitive.”

He said the auto group would “double its bets” in the U.S. but declined to reveal specific amounts.

Global auto makers have announced increased investments in the U.S. as President Donald Trump is raising demands that more goods be made in America.

“President Donald Trump’s policies are not global, but inward looking,” Mr. Mahindra said. Still, he said, Mr. Trump’s promises will help the American economy strengthen.

Hyundai Motor Co. said in January that it would invest up to $3.1 billion in its U.S. manufacturing facilities and that it is considering building a new plant there, joining other auto makers in highlighting investment plans after Trump criticized the industry.

Ssangyong Motor Chief Executive Choi Johng-sik said Thursday that the company is preparing for a U.S. entry but that it would take at least three years to complete its decision.

More immediately, Mr. Choi said, Ssangyong is considering expanding its presence in China by building a manufacturing plant in the world’s largest market and localizing its products there.

He said the company would complete a decision on that by the end of the first half.

Ssangyong, which specializes in sport-utility vehicles, signed an initial agreement with China’s Shaanxi Autombile Group Co. in October to start a joint venture.

Shaanxi Automobile is China’s fourth-largest maker of heavy-duty trucks by output.

Mahindra & Mahindra Ltd sells 39,303 vehicles during January 2017

Mumbai, Februray 1, 2017: Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced its auto sales performance for January 2017 which stood at 39,303 vehicles compared to 43,789 vehicles during January 2016.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 20,096 vehicles in January 2017 as against 22,088 vehicles during January 2016. The company’s domestic sales stood at 37,042 vehicles during January 2017, as against 40,693 vehicles during January 2016.

Exports for January 2017 stood at 2,261 vehicles.

Commenting on the performance for January 2017, Pravin Shah, President & Chief Executive (Automotive), M&M Ltd. said, “The auto industry continues to see mixed reactions and some of the segments including the rural market and the commercial vehicles category continue to face challenging times. Going forward we expect the announcements made at the National Budget today will positively impact the economy and also the industry, especially in view of the emphasis and the allocations made for rural, agri and infrastructure. We are confident that this will lead to a spur in demand”.

Sales Summary January 2017

January

YTD January

F17

F16

% Change

F17

F16

% Change

Passenger Vehicles

20096

22088

-9%

190173

185704

2%

Utility Vehicles

19217

21034

-9%

179185

174276

3%

Cars + Vans

879

1054

-17%

10988

11428

-4%

Commercial Vehicles

13890

14385

-3%

141657

135481

5%

LCV < 3.5T

12737

13297

-4%

131179

126005

4%

LCV > 3.5T

535

477

12%

5950

5129

16%

MHCV

618

611

1%

4528

4347

4%

3W

3056

4220

-28%

43818

46565

-6%

Total Domestic Sales

37042

40693

-9%

375648

367750

2%

Total Exports

2261

3096

-27%

32232

29628

9%

Total Sales (Domestic + Export)

39303

43789

-10%

407880

397378

3%

About Mahindra

The Mahindra Group is a USD 17.8 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.

Mahindra & Mahindra is prepping up left hand drive KUV100 to be exported to Hungary and South Africa

rgb_0000

 

To cope up with the ever increasing competition from the other automakers of the country, Mahindra is planning to increase it’s exports. Presently Mahindra stands third in sales after Maruti and Hyundai. With the launch and consistent growth of Tiago from Tata Motors, Mahindra got a serious competition. On the other hand Renault-Nissan alliance and Honda Motors are also posing serious competition for third position. Already Honda Motors once displaced Mahindra from third place although for a brief period.

“The LHD version of the KUV100 has been developed in both diesel & gasoline fuel options and the exports will soon start,” a source close to the development told ETAuto.

According to source, Mahindra is expected to export 20,000 units of KUV100 to South Africa and Hungary. Exports to South Africa will go as a kit and will be assembled at its local plant, which was set up in 2004. While in Hungary it will go as Completely Built Units (CBU).

In the first quarter of the fiscal year 2016-17, Mahindra’s PV exports grew by 137 percent to 2,539 units compared to the same period a year ago.

via: ETAuto

Mahindra plans to acquire BSA and Norton — Team-BHP : News

Mahindra Two Wheelers is currently considering buying the rights to two British motorcycle brands; BSA and Norton. The company was in talks with various heritage motorcycle brands from Europe and the US. According to media reports, Mahindra is likely to make an announcement in 3-6 months.The Birmingham Small Arms Company (BSA) motorcycles stopped producing motorcycles…

via Mahindra plans to acquire BSA and Norton — Team-BHP : News