
M&M's Canada-based associate firm files for winding up; stock drops 3%
Upon liquidation of Resson Aerospace, M&M is entitled to receive around ₹28.7 crore as distribution of proceeds towards Class C preferred shares held by the company.
Upon liquidation of Resson Aerospace, M&M is entitled to receive around ₹28.7 crore as distribution of proceeds towards Class C preferred shares held by the company.
Mahindra intends to equip its EVs with electric motors, battery system components and battery cells of Volkswagen's MEB platform.
With new partners like Ford in the picture, SsangYong’s future with M&M is at a crossroads at a time when the Covid-19 pandemic is likely to force the world into a recession.
Companies ranging from auto to garments and FMCG have joined hands to speed up the production of medical equipment such as masks, sanitisers, and ventilators.
Some of the biggest automakers showcase electric cars and concept vehicles at the auto show and say they are working to build an electric ecosystem for a more sustainable future.
Group chairman Anand Mahindra will move to a non-executive role starting FY21; Pawan Goenka will remain MD and CEO till April 2021, after which Anish Shah will takeover the mantle.
Mahindra and Mahindra will pick up majority stake in a JV with Ford, manage the American carmaker’s operations in India, and collaborate on new cars and business in emerging markets.
Corporate India is going green and making sustainability a part of the manufacturing process to protect the environment.
The company’s PAT fell to ₹918 crore from ₹1,238 crore a year ago due to falling sales and low margins, but including exceptional gains, the figure stands at ₹2,260 crore.
As part of the deal, SUN Mobility will offer its energy infrastructure platform to a select number of original equipment manufacturers for building e-autos.