mahindra and mahindra

Mahindra & Mahindra Invests Canadian Data-Driven Farming Company

1May By Sheldan RungasamyNo Comments

ACQUISITION

Mahindra & Mahindra Invests Canadian Data-Driven Farming Company

Mahindra and Mahindra (M&M) came to terms with Canadian IT firm Resson Aerospace Corporation in a share subscription agreement to acquire 10 per cent of its share capital for up to CAD 6.63 million. “The company has today signed a share subscription agreement for subscribing up to 8,00,402 Class C preferred shares of Resson Aerospace Corporation, Canada, which would result in the company holding up to 10 per cent of the share capital of Resson on a fully diluted basis,” M&M said in a regulatory filling. The amount of CAD 6.63 million which amounts to approximately 34.5 crore in Indian currency will be paid in cash. Resson is a machine learning and data-driven analytics company that makes use of the latest technological advancements to provide farmers with full insights abo...

Zoomcar To Raise $50M Funding From Existing And New Investors

Self-drive car rental service Zoomcar India Pvt Ltd is in talks to raise a funding of $50 million from new and existing investors, Mint reported. Citing two people aware of the development, the financial daily reported that Zoomcar's funding talks have progressed with M&M (Mahindra & Mahindra) the Indian multinational car manufacturing corporation headquartered in Mumbai. “They are in advanced talks with Mahindra and Mahindra, while there is interest from two other new investors, too,” the first person told the source. In its partnership with M&M, Zoomcar will be launching electric cars in Agra, Dehradun and Chandigarh.The company is currently running a pilot in Mysore, according to a third person familiar with the matter. The information has not yet been verified, as t...

Automaker Mahindra Wants To Sell Electric Vehicles In U.S.

Mahindra & Mahindra Ltd, one of India’s oldest vehicle manufacturers, is testing autonomous tractors, trucks and cars, while moving closer to bringing electric vehicles to the United States, Chairman Anand Mahindra said on Monday. The company, which opened a new North American headquarters north of Detroit on Monday, is considering when to begin U.S. sales of the vehicles, Anand Mahindra said in an interview. It is also weighing whether the vehicles should carry the Mahindra brand or those of its affiliates Pininfarina, the famed Italian design house; and Ssangyong Motor Co, a Korean manufacturer of utility and crossover vehicles, he added. Mahindra & Mahindra bought Ssangyong in 2011 and Pininfarina in 2015. The Indian parent is collaborating with both companies on the developm...