trending Market Intelligence /marketintelligence/en/news-insights/trending/o9ebuboripsbmgto3n9gtq2 content esgSubNav
In This List

Report: Mahindra to sell discounted electric cars to Uber drivers in India

Blog

Municipal CUSIP Request Volumes Climbs for Fourth Straight Month

Blog

Corporate Credit Risk Trends in Developing Markets: An Expected Credit Loss (ECL) Perspective

Video

Root & Branch - June 2021: Greenium, Transparency and Advent

Blog

LCD Monthly: ESG Sustainability linked bonds offer pricing perk


Report: Mahindra to sell discounted electric cars to Uber drivers in India

Indian car manufacturer Mahindra & Mahindra Ltd. agreed to sell electric cars at discounted prices to drivers for Uber Technologies in a bid to establish a strong foothold in India's growing electric car market, the Nikkei Asian Review reported Feb. 25, citing Mahindra Managing Director Pawan Goenka.

Mahindra also has a partnership with India's biggest ride-hailing service, Ola, to build a new urban mass transport system in Maharashtra, the report said. Ola is owned and operated by ANI Technologies Pvt. Ltd.

Under its partnership with Uber, Mahindra will sell Uber drivers electric cars, including the e2oPlus compact hatchback and the eVerito small sedan. The company will also provide cheap auto loans, insurance and maintenance services to Uber drivers.

The report noted that the Indian government plans to boost the usage of electric cars in the country by 2030 and purchase 10,000 electric cars through international bidding. Tata Motors Ltd. reportedly won the first round of bidding in 2017.