Mahindra launches high-power tractors under Novo brand in India

Mahindra & Mahindra launched two high-power tractors under its Novo brand. The 65 horsepower variant with two-wheel drive has a starting price of Rs 9.99, while the 75 HP variant with four-wheel drive costs Rs.12.5 lakh. Currently most of the tractors available in India are in the 30-40 horsepower range. Like most tractors sold in […]

Mahindra launches XUV500 2018 with more power, price Rs 12.3 lakh

Mahindra & Mahindra Ltd launched the 2018 version of its high-end utility vehicle, the XUV500, with improved interiors and an engine that is about 10% more powerful than the outgoing variant. The XUV500 2018 comes with an mHawk engine that delivers 155 BHP (114 kW) of power, compared to 140 BHP on the outgoing version. […]

Maruti Suzuki overtakes Mahindra to become India’s No.1 SUV maker

Maruti Suzuki India said it has become the No.1 utility vehicle brand in India, overtaking long-time incumbent Mahindra & Mahindra in the financial year ended March 2018. The company said it had a 27.5% market share in the UV/SUV space in the year. Riding on the success of models like Vitara Brezza, Ertiga and S-Cross, […]

M&M sets up electric ‘hypercar’ unit in Europe under Italian brand

Mahindra & Mahindra, India’s largest SUV maker, said it will launch a high-end electric car brand in Europe, with the first model out in 2020. The company will leverage the design talent of Pininfarina, an Italian design car designer it purchased three years ago. The new brand will be called Automobili Pininfarina. “The company will […]

Mahindra chosen as Indian partner for Japan’s ShinMaywa US-2 aircraft

Mahindra Defence, part of the Mahindra Group, has been selected as the local partner for Japanese aircraft maker ShinMaywa’s manufacturing and related operations for its US-2 seaplane in India. The amphibious aircraft can be used for both civilian and military purposes and the Indian Navy is expected to be among the customers for the same […]

Mahindra & Ford to co-develop SUVs, small electric vehicle

Mahindra Group and Ford Motor Company will jointly develop new SUVs, and a small electric vehicle as part of several initiatives announced today between the two companies. The two companies signed five new memoranda of understanding (MoU) that they said will further strengthen their strategic alliance and accelerate the development of key products for consumers […]

Mahindra to invest Rs 500 cr into electric vehicle development

Automaker Mahindra & Mahindra said it will invest Rs 500 cr at its Chakan plant in Maharashtra for product development and capacity enhancement in its electric vehicle operations. The investment is in addition to the Rs 6,500 cr expansion program that is already going on at the plant that also makes non-EV models, India’s biggest […]

Mahindra Lifespaces launches flats in Palghar for Rs 8 lakh

Mahindra Lifespaces announced the launch of its a new affordable housing project in the Mumbai suburb of Palghar with one-room-kitchen flats starting at just Rs 8 lakhs. The project, under Mahindra Lifespace’s Happinest brand, also offers 1 Bedroom-Hall-Kitchen and 2 BHK flats “amidst lush, green surroundings” costing up to Rs 24 lakhs. The flats are […]

Mahindra & Mahindra reports 70% jump in CV sales in January

Mahindra & Mahindra reported a 32% jump in its auto sales January 2018 to 52,048 vehicles, boosted by strong sales of commercial vehicles. The Passenger Vehicles segment, which includes SUVs, Cars and Vans, sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17%. In the Medium and […]

Uber to deploy Mahindra electric cars in India

Mahindra & Mahindra said Uber, the taxi company, will deploy ‘hundreds of electric cars’ from the company in Delhi and Hyderabad. The partnership will gradually be expanded to other cities, it said. Mahindra’s electric vehicles on the Uber platform will include the ezoPlus hatch and the eVerito sedan. “As part of this collaboration, both the […]

Mahindra enters Potato planter segment with Dewulf tie-up

Mahindra & Mahindra Ltd said it has agreed to license technology and the brand from Belgium-based agricultural equipment maker Dewulf to make potato planting machinery in India. Dewulf is the world’s leading full-liner in potato and root crop machinery and has three manufacturing locations in Europe: Belgium, the Netherlands and Romania. “With the ever increasing […]

XL Catlin to buy 20% of Mahindra Insurance Brokers

Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund. “XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers in rural India,” the group […]

Mahindra Financial Services to raise 2,250 cr via share sale

Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]

Mahindra launches fuel-efficient van under Jeeto brand to take on Maruti Suzuki Omni

Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes. At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its Maxximo platform, priced at Rs 3.05 lakh. The […]

Mahindra Finance to raise Rs 2,000 cr via debentures

Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]