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    M&M   INE101A01026

MAHINDRA AND MAHINDRA LTD

(M&M)
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Delayed NSE India Stock Exchange  -  07:27 2022-10-04 am EDT
1260.35 INR   +0.72%
10:57aMahindra's Farm Equipment Sector achieves highest ever monthly tractor sale in India at 47,100 units, during September 2022
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10:57aMahindra sells highest ever monthly volume of 64,486 vehicles, registers a growth of 129%; Takes No. 1 position in SUV Market with 34,262 UV sales in September 2022
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10:57a2023 The PEUGEOT electric year; PEUGEOT will have the widest electric offer in Europe available in 2023
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Volkswagen, Mahindra deepen electric vehicle component cooperation

08/15/2022 | 09:31am EDT
FILE PHOTO: Mahindra Funster electric concept SUV is on display after it was unveiled at the India Auto Expo 2020 in Greater Noida

FRANKFURT (Reuters) - Volkswagen AG and Mahindra and Mahindra on Monday expanded their cooperation and signed a term sheet under which the German carmaker will supply electric components to its Indian peer.

The agreement covers components of Volkswagen's open platform for electric vehicles (EVs), called MEB, to be supplied to Mahindra's new electric platform INGLO, the companies said in a joint statement.

The cooperation aims for a volume of more than 1 million units over lifetime and includes the equipment of five all-electric sports utility vehicles (SUV) based on INGLO, the companies said.

"The MEB Electric Platform and its components are key to affordable sustainable mobility around the globe," Volkswagen management board member Thomas Schmall said.

"The partnership not only demonstrates that our platform business is highly competitive, but also that the MEB is well on track to become one of the leading open platforms for e-mobility."

Volkswagen and Mahindra in May said they were exploring a partnership in the supply of electric components, making Mahindra the second large customer for the MEB platform after Ford.

They said at the time that they would finalise the agreement by the end of 2022.

(Reporting by Christoph Steitz; Editing by Ludwig Burger and Editing by Maria Sheahan)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MAHINDRA AND MAHINDRA LTD 0.72% 1260.35 Delayed Quote.49.48%
VOLKSWAGEN AG 3.88% 131.34 Delayed Quote.-26.00%
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Financials
Sales 2023 755 B 9 274 M 9 274 M
Net income 2023 63 994 M 786 M 786 M
Net cash 2023 66 460 M 817 M 817 M
P/E ratio 2023 23,5x
Yield 2023 1,01%
Capitalization 1 402 B 17 225 M 17 225 M
EV / Sales 2023 1,77x
EV / Sales 2024 1,51x
Nbr of Employees 260 000
Free-Float 67,4%
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Last Close Price 1 260,35
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Managers and Directors
Anish Dilip Shah Chief Executive Officer, MD & Director
Manoj Bhat President & Group Chief Financial Officer
Anand Gopal Mahindra Executive Chairman
Mohit Kapoor Group Chief Technology Officer & Executive VP
Rucha Nanavati Chief Information Officer
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MAHINDRA AND MAHINDRA LTD49.48%17 066
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VOLKSWAGEN AG-28.76%74 652
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GENERAL MOTORS COMPANY-43.94%47 926
FORD MOTOR COMPANY-46.08%46 112