MUMBAI: Mahindra and Mahindra is ready to roll out its Bharat Stage VI or BS-VI emission norm compliant diesel vehicles next year and its petrol range over the next two-three months.

The Mumbai-based automaker alone has invested over Rs 1,000 crore in developing its product range to conform to BS VI norms, apart from big investments also from its component suppliers.

Mahindra & Mahindra (M&M), which on Wednesday reported a 19.85% decline in its standalone profit after tax (PAT) to Rs 848.81 crore for the fourth quarter, has earmarked an investment of around Rs 18,000 crore for the next three years. This includes Rs 12,000 crore in capital expenditure and another Rs 6,000 crore in investment towards product development and newer technologies, among others.

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of $20.7 billion Mahindra Group, is expecting an investment of Rs 3,000 crore to Rs 3500 crore from the incoming companies at its just-inaugurated industrial cluster christened ORIGINS in Chennai, when its first phase gets completed with full capacity utilisation.

Indian automobile company Mahindra & Mahindra on Thursday announced the deployment of its electric vehicles (EV) on global ride-sharing platform Uber in Hyderabad. Earlier, Mahindra had announced its strategic collaboration with Uber, to explore the deployment of EVs on its platform in several cities across India.

The two companies will be deploying 50 EVs, which include both e2O hatchback and e-Verito sedan models, in a tie-up with taxi partners such as eee-Taxi to begin with in Hyderabad.

Mahindra & Mahindra (M&M) and Ford Motor Company on Thursday said they have signed a definitive agreement to co-develop a mid-sized SUV for India and other emerging markets.

The new agreement reinforces the steady progress made since the announcement of a strategic alliance between the two companies in September 2017, followed by an announcement on powertrain sharing and connected car solutions in October 2018.

ZoomCar could get a $500 million push from a fresh round of funding (Series E) led by Mahindra, reported Mint. ZoomCar is a self-drive-focused car rental company allowing individuals to rent vehicles by the hour, day, and week.

The company has raised $103.8 million as yet, according to CrunchBase. Last year, M&M had pumped in up to Rs 176 crore in Zoomcar India and Zoomcar Inc, its US incorporated holding parent company.

New Delhi: Auto major Mahindra & Mahindra (M&M) on Monday said it has launched a technology-based electric mobility service in Mumbai on select routes.

As part of the initiative - Glyd - the company flagged off the first batch of 10 e-Veritos in the city.

As part of a turnaround strategy for the loss-making Ssangyong Motor Company (SYMC), Mahindra & Mahindra (M&M), which owns 74.65% stake in the Korean automaker, is betting on a new product portfolio to ramp up volumes and increase revenues.

“Losses mean that revenue is less than expenses. Clearly we are working on all the levers that we need to have to reduce the expenses and the main lever is volume.

Shares of Mahindra & Mahindra (M&M) hit a 52-week low of Rs 661 per share, down 3 per cent on the National Stock Exchange (NSE) in early morning trade on Monday after the management revised its tractor volume guidance lower to 10 per cent from earlier lower band of 12-14 per cent. It also expects FY20 tractor growth to be in single digits. The passenger vehicles industry is expected to grow at around 5-6 per cent in FY19.

Mahindra & Mahindra (M&M) on Friday reported a 12% year-on-year (yo-y) rise in consolidated net profits to Rs 1,504.5 crore for the three months to December supported by an increase in other income to Rs 342.28 crore.

Profitability at the automaker took a hit with the Ebitda (earnings before interest, tax, depreciation and amortisation) margins falling by 150 basis points year-on-year to 13.2%. The operating profit was marginally up by 0.7% y-o-y at Rs 1,702.85 crore.

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