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Arno Antlitz - 1 Antlitz - 1 Andrew Kelly - 1 Miranda Murray - 1 Friederike Heine Our - 1 Danish Siddiqui - 1 Hemant Sikka - 1 Rajendra - 1
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Volkswagen - 2 India's Mahindra - 2 Audi - 2 REUTERS - 2 Rights - 2 Mahindra - 2 Thomson - 2 Automotive - 1

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☆ Volkswagen in concrete discussions over car partnerships in India
  + stars: | 2024-05-23 | by ( ) www.cnbc.com   time to read: +1 min
The logo of German car giant Volkswagen (VW) is seen on a Volkswagen ID Buzz van during the company's annual press conference to present the business report, on March 14, 2023 in Berlin. Volkswagen is in concrete talks about partnering up on passenger car production in India, the group's finance chief said on Thursday, adding it was tough to earn money in the market that still presents a "clear" opportunity. "We are in very good discussions," Arno Antlitz told the Reuters Events Automotive Europe conference in Munich, "it's very, very concrete," he added, without specifying. "I think we shouldn't underestimate the potential in India in terms of a market ... and in terms of regulatory uncertainty between the U.S. and China. At 101,553 delivered vehicles, India is so far a small market for Volkswagen, accounting for little more than 1% of deliveries across the whole group in 2023.
Persons: Arno Antlitz, Antlitz Organizations: Volkswagen, Reuters, Automotive, U.S, India's Mahindra, SKODA, Audi, Porsche, Lamborghini Locations: Berlin, India, Munich, China, Washington, Beijing, Aurangabad, Pune
☆ Volkswagen in 'advanced talks' with Mahindra on MEB platform
  + stars: | 2023-09-04 | by ( ) www.reuters.com   time to read: +1 min
A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsBERLIN, Sept 4 (Reuters) - Volkswagen (VOWG_p.DE) said on Monday that it is in advanced talks with India's Mahindra & Mahindra (MAHM.NS) on the use of key electric components of the German carmaker's open platform for electric vehicles, called MEB. Mahindra wants to use central MEB components such as the e-drive and unit cells for its models, said Volkswagen in a statement. Volkswagen has developed a modular, open vehicle platform for EVs, called MEB, which is used to build to its own cars and those of other group companies including Skoda and Audi. In August, Volkswagen and Mahindra signed a term sheet under which the German carmaker would supply electric components to its Indian peer.
Persons: Andrew Kelly, Miranda Murray, Friederike Heine Our Organizations: New York, REUTERS, Rights, India's Mahindra, Mahindra, Volkswagen, Skoda, Audi, Thomson Locations: Manhattan , New York City, U.S
☆ India's Mahindra aims to double tractor exports with new platform
  + stars: | 2023-08-15 | by ( ) www.reuters.com   time to read: +1 min
A Mahindra and Mahindra sign at one of the carmaker's showrooms in Mumbai, India, August 30, 2016. REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsMUMBAI, Aug 15 (Reuters) - India's largest tractor maker, Mahindra and Mahindra (MAHM.NS), launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India's Mahindra Research Valley and Japan's Mitsubishi Mahindra Agriculture Machinery with an investment of 12 billion rupees ($144 million), Hemant Sikka, president of farm equipment sector at Mahindra said. On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The company is planning to introduce tractors from the new Oja platform in various locations including North America, ASEAN countries, Brazil, Australia, Europe, and the SAARC region.
Persons: Danish Siddiqui, Hemant Sikka, Rajendra, Mark Potter Organizations: Mahindra, REUTERS, Danish, Rights, Reuters, India's Mahindra Research, Mitsubishi Mahindra Agriculture Machinery, Thomson Locations: Mumbai, India, Cape Town , South Africa, North America, ASEAN, Brazil, Australia, Europe, SAARC
☆ Mahindra Group expects Indian EV adoption of 25% in the next five years, CEO says
  + stars: | 2023-01-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMahindra Group expects Indian EV adoption of 25% in the next five years, CEO saysDespite only being around 1% today, Anish Shah, chief executive officer of India's Mahindra Group, says the company expects a rapid increase in EV adoption before it reaches an inflection point.
☆ India's Mahindra's lending arm sees vehicle recovery sliding 75% on RBI order
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +2 min
People walk past a screen displaying Mahindra and Mahindra logo before the start of a news conference in Mumbai, India May 30, 2016. REUTERS/Danish SiddiquiBENGALURU, Sept 23 (Reuters) - India's Mahindra and Mahindra Financial Services (MMFSL) (MMFS.NS) said on Friday its monthly vehicle recovery would temporarily fall by about 75%, a day after the country's central bank directed the company to stop using third-party services for repossessions. The company's shares tumbled as much as 10% to 201.35 rupees as of 0414 GMT, their biggest intra-day percentage slide in 17 months. The Reserve Bank of India late on Thursday directed the company to stop using third-party services for recoveries until further orders, citing "material supervisory concerns." The halt on vehicle recovery by the third-party agencies is not expected to have any material impact on its financials, the company said.
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