Saturday, March 2

Tag: Mahindra & Mahindra

5 Most Successful Entrepreneurial Stories: From Rags to Riches
INSPIRATIONAL

5 Most Successful Entrepreneurial Stories: From Rags to Riches

"Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do." Entrepreneurship is surely not an easy task and comes with its own set of challenges and hardships, yet time and again successful entrepreneurs from around the world proved that winners never quit and quitters never win. At the end of the day, it depends on how far you are ready to go even the direst of circumstances. To help you kick off "work blues" and inspire you with some entrepreneurial greatness, we have come up with the most inspirational business success stories that emerged in the wake of personal struggles, diligent leaders, hard-won circumstances and paved the way for enlightening inspiration for the coming generations. &nbs...
Zoomcar Raises $40 million Funding From Mahindra & Mahindra
FUNDING

Zoomcar Raises $40 million Funding From Mahindra & Mahindra

The car and bicycle rental company Zoomcar have raised up to Rs 176 crore from Mahindra & Mahindra the Indian multinational car manufacturer. Mahindra & Mahindra (M&M) today said it will invest up to $27.6 million in-car and bicycle rental firm Zoomcar India and Zoomcar Inc, its US incorporated holding parent company. The deal specifies the fact that the investment of such a huge amount of Rs 176 crore when converted to common stock of Zoomcar Inc. ,would constitute approximately 16 per cent stake of the automotive major in Zoomcar Inc. This investment is a part of Series C round of funding worth $40 million (Rs 256 crore) which including the previous investors, the names of which the self-drive car rental startup didn't disclose. The startup ZoomCar was the first in Indi...
M&M Says Price Quoted By Tata For Electric Cars Is ‘Hard To Comprehend’
INDIA

M&M Says Price Quoted By Tata For Electric Cars Is ‘Hard To Comprehend’

Mahindra & Mahindra, the sole maker of electric cars says the bid by rival Tata Motors which it bid in the contract with Energy Efficiency Services (EESL) is too low. “We find the price (quoted by Tata Motors) hard to comprehend,” Mahindra managing director Pawan Goenka said. Last week, Tata Motors offered to supply the electric vehicles at Rs 11.2 lakh each, inclusive of the GST and a five-year warranty. Mahindra quoted more than Rs 13 lakh and subsequently agreed to match the bid by Tata Motors to win part of the order. The tender was for 10,000 vehicles. Tata Motors earlier was supposed to supply the electric vehicles (EVs) in two phases– 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase. But now, since M&M has qualified, it will...
After Tata, Mahindra & Mahindra Bagged The Electric Car Contract From Indian Government
BUSINESS

After Tata, Mahindra & Mahindra Bagged The Electric Car Contract From Indian Government

State run Energy Efficiency Services (EESL) on Wednesday said that Mahindra & Mahindra has matched the Tata Motor's lowest bid price to supply 150 electric vehicles. The stocks of Mahindra & Mahindra shot up by 2% as soon as the it grabbed the deal. "Post the tender opening, Tata Motors had emerged as the lowest bidder and Mahindra as the second lowest bidder. Mahindra has agreed to match the lowest bidding pricing for phase I and has, therefore, qualified to supply 150 electric vehicles, as per the tender conditions," State-run Energy Efficiency Services Limited (EESL) said in a statement. Tata Motors earlier was supposed to supply the electric vehicles (EVs) in two phases– 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase. But now...
Tata Motors Bags Rs 1120 Crore Order For Procuring Electric Cars To Government
INDIA

Tata Motors Bags Rs 1120 Crore Order For Procuring Electric Cars To Government

Tata Motors raises Rs 1120 crore order from Energy Efficiency Services Ltd (EESL) for procuring 10,000 electric cars, which will replace diesel and petrol cars used by government and its departments, an effort to cut fuel consumption and reduce pollution. Tata Motors will supply the electric vehicles (EVs) in two phases-- 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase, EESL said in a statement. The bidding around also saw participation from Mahindra & Mahindra (M&M) and Japanese carmaker Nissan. Mahindra & Mahindra, the other contender, can win part of the order if it matches the bid by Tata Motors. "The vehicle will be provided for Rs 11.2 lakh, which will be inclusive of GST and comprehensive 5-year warranty which is 25 p...