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India’s Mahindra Group weighs splitting vehicle service into 3 systems – Economic Times


May 5, 2022

A worker strolls past a Mahindra TUV300 vehicle at a display room in Mumbai, India, August 30, 2016. Image taken August 30, 2016. REUTERS/Danish Siddiqui

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Might 6 (Reuters) – Indian auto-to-technology corporation Mahindra Group has actually started a restructuring procedure to divide its autos service into 3 different systems, the Economic Times reported on Friday.

The workout, which remains in the early phases, is focused on splitting the vehicle operations into electrical car (EV), tractor and traveler car companies by means of a demerger procedure, the paper reported, pointing out individuals acquainted with the talks.

Mahindra Group is likewise looking for funds for the EV system and will club it with Italian style home Automobili Pininfarina to form a different business, according to the report.

Mahindra did not right away react to a Reuters ask for remark.

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Reporting by Mrinmay Dey in Bengaluru;
Modifying by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Concepts.

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