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Uno Minda eyes INR 1,500 crore revenue from JV with FRIWO: Group CFO2 hrs ago
Mahindra weighs acquisition of GM's Talegaon factory1 day ago
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In December 2021, the company entered into a joint venture agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components for two- and three-wheeler electric vehicles markets in the Indian subcontinent with a planned capex of INR 390 crore in the next six years.
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With a plan to invest over USD 1 billion in electric vehicle ambition, Mahindra in July raised INR 1,925 crores (USD 250 million) at a valuation of up to INR 70,070 crores (USD 9.1 billion) from British International Investment into its electric four wheeler business. The first of the five new electric SUVs will be launched in December 2024 starting with the India market.
The company will stop producing Jazz after October 2022 while the crossover WR-V will not be produced beyond March 2023. The carmaker will also stop the production and sale of the 4th Generation Honda City by December 2022 in the country. However, the 5th generation of the sedan will continue to be available in the market, a source in the know of things told ETAuto.
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