In a inventory trade submitting Mahindra mentioned that there have been no plans to separate its auto enterprise into three models.
Automaker Mahindra And Mahindra Ltd mentioned on Friday it had no plans to restructure the corporate into three verticals, following a media report that mentioned the corporate was contemplating splitting up into an electrical automobile (EV), a tractor and a passenger automobile enterprise by a demerger course of.
The Economic Times newspaper had reported the Mahindra Group can be searching for funds for the EV unit and can membership it with Italian design home Automobili Pininfarina to type a separate firm, citing sources acquainted with the matter.
“The company …considers it necessary to clarify to the stock exchanges that there are no plans to split the auto business of the company into three units,” the automotive maker mentioned in a submitting to the exchanges.
(Reporting by Mrinmay Dey in Bengaluru; Editing by Vinay Dwivedi and Rashmi Aich)
0 Comments
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
For the newest auto information and opinions, comply with on carandbike.com Twitter, Facebookand subscribe to our YouTube channel.
,
With inputs from NDTV
