India : SoftBank in talks to pick up minority stake in Mahindra Electric Mobility

For SoftBank, EVs are a key area of focus. It has already invested over $250 million in Ola Electric Mobility where it is a key investor

Mahindra Electric Mobility, one of the country’s largest electric vehicle (EV) manufacturers, is in preliminary talks with Japanese giant SoftBank for an alliance which could include taking minority stake in the company.

The company, in which Mahindra & Mahindra (M&M) is the key investor, publicly announced a few weeks ago that it would look for a private equity investor or a strategic investor to scale up its operations, though M&M will continue to stay as a big investor. Mahindra Electric Mobility sold over 10,400 EVs in 2018-19.

 

Source : https://www.business-standard.com/article/companies/softbank-in-talks-to-pick-up-minority-stake-in-mahindra-electric-mobility-120020900610_1.html

Smart Grid Bulletin June 2020


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