Mahindra To Buy Into Meru

Mahindra To Buy Into Meru
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03 Sep, 2019 Uploaded by: ashi digital
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Mahindra & Mahindra is set to acquire a majority stake in ride-hailing firm Meru Cabs for up to ₹201 crore. The deal allows M&M to expand its presence in the shared mobility market and gives Meru more firepower to compete with Ola and Uber. M&M will pick up 55% in Meru Travel Solutions for ₹103 crore and retain the option of buying the remaining shares for up to ₹98 crore. Last year, the Anand Mahindra-led company had invested in self-drive service Zoomcar. Auto major Mahindra & Mahindra is entering the shared mobility space and is acquiring a 55% stake in Meru Cabs for Rs 201.5 crore. The company said that it is keen to grow its presence in shared mobility space and by acquisition of stake in Meru, it will also enter the corporate shared mobility space, which is an area of strategic interest to it. Is it the right time for Mahindra to pull the trigger and enter this shared mobility space? • With decrease in sales of automobiles for personal use, it makes sense to develop a channel where there is growth in demand for their product. • This is a good way to market electric vehicles and to tell the world how superior their product is • If they can get cost advantage in the mobility space because of lesser operating cost for their electric vehicles, their market share is going to increase exponentially • Both Meru and Mahindra are trusted brands and combined goodwill in the market should act as a catalyst in their growth journey.

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Upload By:BI
03 Sep, 2019

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