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India's automobile major Mahindra & Mahindra Ltd (M&M) will hive off its assets relating to the four-wheeler passenger electric vehicles to a new company in which the British International Investment (BII) will invest upto Rs 1,925 ...
BII to invest Rs 1,925 cr in Mahindra's four-wheeler EV segment
BII, the UK’s development finance institution and impact investor and M&M have executed a binding agreement to invest up to Rs1,925 crore ($250 million).
The new Mahindra EV subsidiary is valued at Rs 70,070 crore; will focus on full-electric SUVs; 3 EV concepts will be announced on August 15, 2022. Click here for more.
Mahindra & Mahindra stock hit an all-time high of Rs 1,191.90, rising 5.17 per cent against the previous close of Rs 1,133.35 on BSE.