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News and Information about mahindra

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Mahindra introduces KUV100 compact SUV

Mahindra and Mahindra Ltd. has recently launched its super compact SUV, the Mahindra KUV100 (pronounced as KUV ‘1 double Oh’) with the codename S101. M & M, India’s leading SUV manufacturer, also introduced a new engine family called the mFALCON, thus announcing the company’s first entry into the ground up petrol space.

KUV100 has been created, keeping a completely new category of compact SUVs in mind. The ‘K’ stands for ‘kool’ and represents the trendy youth whereas UV stands for an SUV. The ‘100’ comes in line with the numeric series below TUV300 and XUV500.

The rough and tough style, which is typical of Mahindra vehicles, is very much present in the aggressively styled KUV100. The powerful KUV100 gets its power from the world-class mFALCON engine family that has dual options of petrol (mFALCON, G80) as well as diesel (Mfalcon, D75).

Read the entire article Mahindra introduces KUV100 compact SUV

Mahindra nears final deal to buy majority of NEVS, current owner of Saab

Mahindra & Mahindra is nearing to finalize an agreement to acquire a majority stake in the financially distressed National Electric Vehicle Sweden (NEVS), according to a report by the Financial Times, citing court documents. NEVS is the current owner of Saab. Mahindra plans to acquire what remains of Saab to accelerate its expansion into western markets and into premium and electric cars, the Times said.

Lars Eric Gustafsson, the appointed administrator for NEVS, said earlier this month that an Asian carmaker has agreed to purchase a majority stake in NEVS. However, both Gustafsson and NEVS didn’t disclosed the name of the carmaker.

According to the SaabsUnited Web site, NEVS and Mahindra have inked a deal for the Indian company to become a majority owner of NEVS. The investment company has disclosed that a Swedish court had green-lighted an extension of its reorganization for a three more months until March 2, 2015 to allow it to finalize discussion with potential investors.

Read the entire article Mahindra nears final deal to buy majority of NEVS, current owner of Saab

Mahindra is in talks to buy scooter business of PSA

Mahindra & Mahindra Ltd. is in advanced talks to acquire the scooter business of French carmaker PSA/Peugeot-Citroen, three people privy with the matter told Bloomberg. Two of the sources said that an announcement may soon be made.

Once Mahindra acquires PSA's motorcycle unit, it would gain western scooter-making technology, allowing it to better compete against rivals Hero MotoCorp Ltd. and Honda Motor Co. in India, where scooter sales jumped 23 percent in the year ended March.

Hero and Honda Motorcycle & Scooter India Pvt. together control around two-thirds of the country’s two-wheeler market. Divesting PSA’s scooter business would be a strategic move for chief executive Carlos Tavares, as the unit has been posting losses for a decade.

Read the entire article Mahindra is in talks to buy scooter business of PSA

Mahindra and SsangYong to launch first co-developed engine in 2015

Mahindra and Mahindra and subsidiary SsangYong Motor Co. will roll out their first jointly developed engine in the first quarter of 2015, according to Pawan Goenka, president of Mahindra's automotive and farm equipment sectors. SsangYong plans to fit the engine in its X100 compact SUV that will be introduced next year.

"Mahindra most likely will have a ... version of it on that [X100] platform," he said. Goenka, who is also chairman of SsangYong, added that there are future products that the companies will collaborate on using a common platform. He expects the Mahindra and SsangYong to eventually build six engines that will entail gasoline and diesel variants.

Mahindra will also launch two of its own compact SUVs and a commercial vehicle in 2015, Goenka said, adding that the company has no plans to introduce any passenger vehicles this year.

Read the entire article Mahindra and SsangYong to launch first co-developed engine in 2015

Mahindra Racing is now the eighth team to join the new FIA Formula E Championship after inking an agreement with series promoters Formula E Holdings. Mahindra Racing is the motorsports division of the Mahindra Group.  Joining the Formula E was considered as natural step for the Mahindra Group, as it is also considered a global force in the development and production of electric vehicles through its Mahindra Reva Company.

“We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology,” said Anand Mahindra, Chairman and Managing Director of Mahindra Group.  He remarked that they are already “seeing the fusion” of this racing technology into their electric vehicle operations.

He added that racing will accelerate that trend while Formula E will raise global awareness of the benefits of electric vehicles. Mahindra Racing is already an active participant in the MotoGP World Championship, thus it is not anymore unaccustomed to the racing world.

Read the entire article Mahindra Racing is the 8th team in the FIA Formula E

Mahindra and Mahindra is expecting to reach an agreement to acquire luxury car maker Aston Martin by the end of the week, a source privy to the matter told Reuters. India-based Mahindra is reported to have outbid Italian private equity fund Investindustrial to acquire the British luxury car company. The source told Reuters that an initial 40-percent stake in Aston Martin could rise to 50 percent, for a total price of up to $400 million.

Kuwait's Investment Dar denied Sunday that it is reviewing competing offers from Mahindra and InvestIndustrial for 50 percent of Aston Martin. Sources, however, told Reuters that bidders were squabbling over issues on management control.

Investment Dar headed a group that acquired Aston Martin from Ford Motor Co. in 2007 for GBP479 million ($925 million). According to an analyst, Investment Dar, which undertook a $1 billion debt restructuring in 2011, sought to recover its investments in Aston Martin, which means a value of around $1 billion. InvestIndustrial made an offer of between GBP200 million and GBP250 million ($400 million) for a stake, a source disclosed to Reuters.

Read the entire article Mahindra expects to soon reach deal to buy Aston Martin, source says

Sources said that competing bids were received from Investindustrial and Mahindra & Mahindra Ltd. for half of the sports car maker Aston Martin. Investment Dar Co., the owner of Aston Martin, received the bids, according to the Bloomberg report. The sources also said that a winner may be chosen by Investment Dar and other Kuwaiti investors who own U.K.-based Aston Martin at this weekend at the earliest.

Two insiders said that the buyer will receive the stake as part of a capital increase. A bid of slightly lower than 250 million pounds ($401 million) was submitted by Investindustrial, a European private-equity fund based in London. They said that Indian automaker Mahindra then made a higher bid, beating down the previous offer.

It was also reported that a decision will signal the end of Investment Dar’s search for an investor for Aston Martin. Investment Dar is part of the group that purchased Aston Martin from Ford Motor Co. in 2007 for 503 million pounds ($805 million). The proceeds would enable the company to pay off debt. One source said that the bidder who will be chosen will receive 50% of the voting rights and a 40% equity stake.

Read the entire article UK private equity fund, Mahindra interested in Aston Martin

Mahindra & Mahindra Ltd. has opened its first technical center in North America. The center, located in suburban Detroit, will be responsible for providing design and consulting services for Mahindra's automotive customers in the region. The center will also be responsible for supporting the company’s automotive and tractor engineering operations in India.

Mahindra has been selling tractors in the United States since 1994. Although its plans to sell a compact diesel pickup in the US failed to materialize, Mahindra is still aiming to be one of the top 10 global carmakers by 2020.

According to Mahindra executives, they are planning to target the global entry level, B and C segments. They added that Mahindra Engineering Services' clients include General Motors, Daimler, BMW, Volvo, Bentley and Navistar.

Read the entire article Mahindra opens its first North American technical center in Detroit

Mahindra & Mahindra has stopped development work on a pickup truck targeted at the U.S. market amid legal disputes and failure to get the required certification. Mahindra, the largest utility vehicle maker in India, sells tractors in the U.S. but not passenger vehicles. It has been developing a pickup truck version of its saleable Scorpio utility vehicle since 2006, spending around $100 million.

However, Mahindra said that these plans have been thrown out. In Mahindra’s statement, it said that it chose not to proceed with the project because of changes in the U.S. regulatory and market situation. It said that it will continue with its usual operations in the U.S. and will stay flexible with how it approaches the market.

Last June, Mahindra said that it has yet to get the required certification to penetrate the U.S. market with the vehicle. No specific details were given. It has also an ongoing dispute with distributor Global Vehicles, with which it had agreed to launch the Scorpio version in the U.S. In early 2012, an international arbitration panel made a favorable ruling for the automaker, the flagship firm of the Mahindra Group conglomerate.

Read the entire article Mahindra stops development on a pickup truck targeted at the U.S. market

Mahindra & Mahindra Ltd. is now the biggest automaker in India by market value, taking the place of Tata Motors Ltd. The decline in passenger car demand had pulled down Tata's shares. On Friday, Mahindra’s shares gained in Mumbai trading, giving it a market capitalization of 440.74 billion rupees ($9.6 billion).

Mahindra is the biggest maker of SUVs in India. On the other hand, Tata Motors dropped 5%, putting the company’s value at 424.14 billion rupees.

Tata Motors, which owns the Jaguar and Land Rover brands, is the biggest truckmaker in India, says Autonews. Bloomberg data show that it was in October 2008 that Tata Motors' value last fell below Mahindra's.

Read the entire article Mahindra overtakes Tata Motors, becomes India’s largest carmaker

Anand Mahindra, the owner of Mahindra & Mahindra Ltd. that had purchased 70% of Ssangyong Motor Co. for $378 million, said that he is confident that his company will be able to turn Ssangyong’s fortunes around.

Ssangyong is the third-largest maker of sport utility vehicles in South Korea. In the last 20 years, Ssangyong has been very unlucky.

It was sold off four times by different owners, it became bankrupt, and in 2009, its workers took over a plant for nearly 3 months and became involved in one of the most violent strikes in modern Korean history.

Read the entire article Mahindra bets on SsangYong takeover to become known on the SUV market

After being offered first in Italy and South America, the Mahindra Thar is now officially on sale in its domestic market in India. The resemblance to the Jeep Wrangler is uncanny. But that’s because Mahindra had built the original Willys-Overland of the mid-20th century under license. Similar to the U.S.-spec model, the exterior appearance of this vehicle has retained the distinctive square look.

The Thar that has started selling is meant to be a more refined version of the Mahindra Jeep; however, it’s doubtful that Thar buyers are seeking plush leather or tri-zone climate control.

It was on June 3, 1949 that the first Willys-Overland Jeep manufactured in India by Mahindra rolled off the assembly line. Since that time, the Jeeps (as Mahindra-branded vehicles) have spread throughout Asia and were used for various industries and numerous purposes.

Read the entire article 2011 Mahindra Thar: official details, photos, specs and price

Reports from Italian media have listed the names of companies interested in taking over design and engineering specialist Pininfarina S.p.A. At the top of this list of up to 10 carmakers and private equity firms are Beijing Automotive Industry Holding Corp. and India's Mahindra & Mahindra Ltd.

The other companies in this list include: Brilliance China Automotive Holdings Ltd. (BMW AG's Chinese joint venture partner); China's Anhui Jianghuai Automobile Co.; and India's Bajaj Auto Ltd.

Sources who spoke to Automotive News Europe pointed at Canadian-Austrian parts supplier Magna International Inc. to be on this list as well. Pininfarina has yet to comment on this issue.

Read the entire article Report: Beijing Auto, Mahindra named in list of likely Pininfarina buyers

Sicilian financier Simone Cimino’s plan to convert Fiat S.p.A.’s Termini Imerese car factory to produce electric vehicles is expected to get the support of Mahindra & Mahindra Ltd., the largest SUV maker in India. In an interview, Cimino said that he has a preliminary agreement with Reva Electric Car Co. for the production of electric cars at Termini.

Cimino plans to invest up to 450 million euros ($602 million). Last May, Mahindra agreed to buy 55% of Reva, a closely held company based in Bangalore, India.

Fiat aims to stop production at the losing factory, which has 1,400 workers in Sicily and builds the Lancia Ypsilon model, by the end of 2011. The carmaker, which is based in Turin, loses 1,000 euros on each car produced at the plant.

Read the entire article Mahindra may back plan to convert Fiat’s car factory to production of EVs

As part of a strategy to return to profit, Mahindra & Mahindra Ltd., the preferred bidder for Ssangyong Motor Co., could launch up to three models within four years.

Pawan Goenka, president of Mahindra’s automotive and farm equipment division, said that Ssangyong will develop the vehicles based on designs that have never been used. In an interview, Goenka revealed that Mahindra may also build Ssangyong models in India.

Goenka believes that buying the company is the “easy part” and that turning it around is the “more difficult part.” As part of plans to limit reliance on local sales, Mahindra may use Ssangyong engines in pickups it intends to sell in the US.

Read the entire article Mahindra may introduce three new models, with some help from Ssangyong

After testing has concluded for Mahindra's new compact pickups (the TR20 and TR40 models), they're now set to arrive at dealers in spring 2010.

A report from PickupTrucks quotes John Perez, CEO of Mahindra's U.S. distributor, Global Vehicles USA to have said that production vehicles are expected to hit dealers in a few months' time.

But before this could actually take place, the U.S. DOT and the NHTSA have to approve the vehicles and state their compliance.

Read the entire article Mahindra pickup trucks to make their U.S. debut in Spring 2010

Within 30 to 45 days, we will know if negotiations between Renault and its Indian partner, Mahindra & Mahindra, about restructuring their joint venture, are successful. Renault revealed plans to set up its own dealer network in India.

Country head Marc Nassif said that it wants to start with 15 dealerships by mid-2011, and in the next 30 months, increase the number to 150.

Nassif said that it's never too late to come to India as its market is expected to triple in the next 10 years. Despite a good start in India, sales of the Logan have dropped considerably since 2008.

Read the entire article Renault and Mahindra to restructure their joint venture

After having had very low sales for the Logan model, Renault has announced that it will back out of a joint venture with India's Mahindra & Mahindra. Instead, Renault will be concentrating on other projects in the emerging market.

As European carmakers rise up from the economic recession and its effect in the car industry, the focus of these companies has shifted to the markets in Brazil, Russia, India and China.

This shift in their attention to the potential in these car markets is made all the more urgent with the scrapping of incentive schemes in mature markets.

Read the entire article Renault quitting the money-losing joint venture with Mahindra & Mahindra
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