The Indian automotive giant is looking for a strategic investor to come and save its electric car subdivision after taking a severe hit from the Covid-19 pandemic.
In layman’s terms, this essentially means Mahindra is incapable of developing its EV business any further and is ready to sell it to anyone interested. Earlier on, the company refused to continue investing into SsangYong, one of its subordinate brands.
The all-electric Mahindra eXUV300 (see photos and the video) has been designed by SsangYong for Mahindra based on the former’s E100 model. With the newly revealed financial difficulties, the fate of both remains uncertain.