Mahindra Group open to reducing stakes in units in conglomerate

Mahindra Group, the $18 billion conglomerate with businesses from India’s largest SUV maker to financial services and farm equipment, is prepared to pare stakes in its publicly traded units to facilitate fundraising by the companies.The group is open to cutting its shareholdings in six listed entities to less than 51 percent, including Mahindra Mahindra Financial Services, which has a market value of 210 billion rupees ($3.1 billion) – if the strategy they’re pursuing calls for it, Chief Financial Officer VS Parthasarathy said in an interview in Mumbai.Mahindra will also encourage unlisted group companies to tap private equities for investment and list on stock exchanges. “Mahindra Group will enable the group companies to pursue their growth strategies,” Parthasarathy said on October 10. “They will not stand in the way …

Nio EP9 introduced, claims to be world’s fastest electric supercar NextEV is an electric automotive startup founded two years ago by Chinese billionaire William Li. The company has competed in Formula E racing and claimed the driver's championship. Today, NextEV introduced a new car brand and a new car. The brand is Nio and the car is the EP9, an electric supercar that the company claims is the fastest electric car in the world. The EP9 has put up some impressive numbers in testing. On October 14, it posted a 7:05.12 lap time at the Nürburgring, besting the fastest electric car record by about 17 seconds. That's faster than the Alfa Romeo Giulia Quadrifoglio, Porsche Panamera, and even the Porsche 911 GT3 RS, though a bit slower than the Porsche 918. On November 4, the EP9 lapped the Circuit Paul Ricard in ...

2015 Isuzu MU-X recalled for fuel tank fix:: 12 vehicles affected Isuzu has issued a recall for 12 of its 2015.5 model-year MU-X off-roaders over concerns the fuel tank could detach. According to the manufacturer, a manufacturing fault could have caused the fuel tank band fixing bolts to be tightened incorrectly. If the fault occurs, the fixing bolts could become loose during normal operation of the vehicle, and the fuel tank could detach as a result. Should the fuel tank come loose, it could also cause a fuel spill, posing a hazard to the driver and other road users. A VIN list for the recalled off-roaders can be viewed here. Owners of the affected affected vehicles will be contacted by Isuzu Ute Australia and are encouraged to arrange for an inspection, and, if needed, repair at...

Volkswagen To Produce EVs Beginning 2021 In North America, Facts You Need To Know Volkswagen plans to the expand production of electric vehicles starting 2021 in the North America market. Advertisement The company aims to gradually reach its annual target of 2-3 million electric vehicles in sales all over the world by 2025. Manufacturing electrified vehicles seems to be their strategic core branding, which also appears to be one of the firm's long-term plans for the automobile industry. Herbet Diess, Brand Head of Volkswagen, cites that producing electric cars is meant to fill in the anticipated deficit for automobile sales powered by internal combustion engines or also known as ICEs, as repoted on CleanTechnica.   In the recently held Los Angeles Auto Show, the company unveiled their latest creation: the e-Golf model.The introduction of this new EV signals the movement and execution ...

Everything we know about the 2018 Mercedes-Benz X-Class November 28, 2016: Australian automotive publication Motoring breaks the news that AMG has no plans to offer a high-performance version of the X-Class pickup truck. A representative from Mercedes-Benz also confirmed with us there were no plans for such a vehicle, though the company didn't rule out the idea entirely. Instead, the representative said the company will wait to see how the truck is received in the marketplace. As a result, the only powertrains Mercedes will offer with the truck are a Mercedes diesel V6 with 4MATIC all wheel drive, and the range of Nissan four-cylinder engines and drivetrains from the Navara.October 25, 2016: Mercedes reveals the X-Class concept. The company showed two versions of the truck, a street-friendly model in white, referred...

VW's Transform 2025+ plan includes building electric cars in North America Whatever you call it, VW has plans to get past the damage done by its diesel emission lies. Whether that's through buying back or fixing the affected cars, putting its best electric car foot forward at the Paris Motor Show, or, today, announcing Transform 2025+.The wide-ranging (if somewhat high-level overview) announcement talks about VW's plans around the world (more economy cars in markets like India, South America, and Russia) with a focus on electrification and connectivity. That means that, "e-mobility will be part of the Volkswagen brand core" and that VW will one day make its MEB electric vehicles in North America starting in 2021. Here, VW says it, "intends to evolve from a niche supplier into a relevant and profitable volume producer,"...

One-Of-A-Kind Volkwagen Transparent Factory To Reopen, Set Trend In e-Production LOS ANGELES, CA - NOVEMBER 17: A Volkswagen e-Golf is presented during the four-day auto trade show AutoMobility LA at the Los Angeles Convention Center on November 17, 2016 in Los Angeles, California. AutoMobility LA precedes the ten-day LA Auto Show, open to the public November 18 through 27.(Photo : David McNew/Getty Images) Volkwagen's one-of-a-kind "glass house" Transparent Factory in Dresden is set to reopen and begin producing cars again. The company has announced that it will be converted to build the e-Golf electric car, signaling a new thrust in its production line and giving new life to its unique assembly line. Advertisement The glass-walled, open-plan designed Volkwagen Transparent Factory was built in 2002, solely to handle the production of Phaeton luxury sedans. VW...

APRC 2016 India Rally: Gaurav Gill wins at Chikmagalur Gaurav Gill’s 2016 APRC season has been his best championship season yet. The Team MRF Skoda driver, who already sealed his second Asia Pacific Rally Championship title at the previous rally at Johor Bahru, Malaysia, has now completed a clean sweep, winning all six rallies held this season – New Zealand, Australia, China, Japan and Malaysia. Gill has reportedly become the first individual to win all races in an FIA championship en route the title. Gaurav Gill and Glenn Macneall on their way to a historic win at the India Rally at Chikmagalur At the Coffee Day India Rally, Gill and co-driver Glenn Macneall had a lead of 39min 37.9sec, over second placed Michael Young (navigated by Malcolm Read). Finishing third in the APRC category of the ...