Hotline: 1800 102 2007
X
Search Business Opportunities
Feb, 16 2018

Mahindra Group to invest in Zoomcar

Under the aegis of the deal, Mahindra Group would invest up to Rs 176 crore in Zoomcar India or Zoomcar Inc. which, on an as converted to common stock of Zoomcar Inc on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc.

Mahindra & Mahindra group has announced that it would be investing in Zoomcar India Private Limited and in Zoomcar Inc, its US incorporated holding parent company, in keeping with the Mahindra’s thrust on the Shared Mobility Business.

Under the aegis of the deal, Mahindra Group would invest up to Rs 176 crore in Zoomcar India or Zoomcar Inc. which, on and as converted to common stock of Zoomcar Inc on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc.

Mahindra has been keen to invest in the shared mobility space as a part of its strategy to promote and participate in sustainable mobility solutions, including multi modal urban mobility.

This is with the objective of enabling improved livelihoods and lifestyles of people, thereby enabling them to RISE. To that end, Mahindra has been promoting Electric Vehicles along with the promotion of shared mobility. This investment in India’s leading self-drive shared mobility company will enable the company to further its objectives in this area.

Comment
image
Related opportunities
  • TV Channel/Network
    About Us:  A golden opportunity to join the most trusted business..
    Locations looking for expansion Uttar pradesh
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Noida Uttar pradesh
  • Cosmetics & Beauty Product Stores
    About Us: Established in the year 2000, Renewcell Cosmedica LLP formerly..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Degree/Diploma Colleges
    About Us: Instituto Hispania was incepted to remove language barriers, promote..
    Locations looking for expansion Delhi
    Establishment year 1997
    Franchising Launch Date 2009
    Investment size Rs. 10lac - 20lac
    Space required 1300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Gravity, Estd in 1991 is a popular men's wear brand,..
    Locations looking for expansion Maharashtra
    Establishment year 1991
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities