Mahindra arm invests in US-based Scoot Networks
The Dollar Business Bureau Mahindra Group’s private equity arm Mahindra Partners has invested an undisclosed amount in the US based urban mobility solutions provider Scoot Networks in the new round of funding, the company said in a statement. Along with this, Scoot Networks has added 500 Mahindra Genze electric scooters to its fleet. The $900-million private equity and venture capital firm has completed financing a new round in Scoot Networks. Vision Ridge Capital is one among the other investors who have invested in this San Francisco-based company earlier. Speaking about the partnership, Anand Mahindra, Chairman of Mahindra Group, said that the company has tied up with Scoot Networks team to offer a solution to the urban commuting challenges such as pollution, parking and ...
Mahindra launches Gusto scooter in 8 more states
The Dollar Business Bureau Mahindra Two Wheelers, a part of Mahindra & Mahindra Ltd, on Wednesday launched the all-new Mahindra Gusto scooter in 125cc variation in 8 more states, priced between Rs.48,410 and Rs.55,110 respectively (ex-showroom). The company had earlier launched the Gusto 125 model in southern states including Kerala, Karnataka, and Tamil Nadu. Now, it will be available across dealers in 8 northern states of Delhi, Gujarat, Goa, Maharashtra, Uttar Pradesh, Chandigarh, Punjab and Rajasthan before being rolled out all across the country, Mahindra Two Wheelers said in a statement. Vinod Sahay, Chief Operating Officer, Mahindra Two Wheelers said, “Since its launch last year, Gusto has grown consistently and we are now excited about extending the Gusto brand to include new consumer ...
Mahindra to acquire Italian car designer company
The Dollar Business Bureau Indian automobile major Mahindra & Mahindra along with the group’s IT solution arm Tech Mahindra has entered into an agreement to acquire Italian car designer company Pininfarina. The acquisition process will be carried out through a joint venture company in which Tech Mahindra will have 60% share and M&M will hold 40%. “As per the agreement, Tech Mahindra and M&M shall purchase 76.06% of Pininfarina shares from the current controlling shareholder Pincars S.R.L. at a price of Euro 1.1 per share,” the Mahindra Group said in a statement on Tuesday. The Italian firm has crafted models for popular car makers like Ferrari, Maserati, and Rolls Royce, besides designing high-speed trains, buses, trams, rolling stocks, and automated ...
