Mahindra announces Rs 176 crores investment in Zoomcar

  • Facebook
  • Twitter
  • Reddit
  • Flipboard
  • Email
  • WhatsApp
Mahindra announces Rs 176 crores investment in Zoomcar
Mahindra announces Rs 176 crores investment in Zoomcar

New Delhi : Mahindra and Mahindra on Sunday confirmed that they will be investing a huge amount of Rs 176 crores in online self-drive car service Zoomcar.

The investment will be converted into 16 percent stake in Zoomcar Inc. This is the second partnership between Zoomcar and Mahindra.

Last year, they had announced a partnership to introduce electric vehicles in shared mobility service.

Zoomcar in the development recently launched Mahindra e-20 plus electric vehicles across Mysore, Bengaluru and Hyderabad.

Mahindra and Mahindra on the other hand unveiled India's first convertible SUV "TUV Stinger" along with a wide range of electric vehicle concepts including India's first electric mini SUV at the recently concluded Auto Expo in Greater Noida.

Among its wide range of the electric vehicle concepts were e-KUV100, India's first electric SUV which combines the benefits of an SUV with the unique advantage of an electric vehicle.