India's Mahindra Group weighs splitting auto business into 3 units - Economic Times

Pininfarina SpA

06/05/2022 04:31

May 6 (Reuters) - Indian auto-to-technology conglomerate
Mahindra Group has begun a restructuring process to split its
automobiles business into three separate units, the Economic
Times reported on Friday.
    The exercise, which is in the early stages, is aimed at
splitting the auto operations into electric vehicle (EV),
tractor and passenger vehicle businesses via a demerger process,
the newspaper reported https://bit.ly/38WtYlv, citing people
familiar with the talks.
    Mahindra Group is also seeking funds for the EV unit and
will club it with Italian design house Automobili Pininfarina to
form a separate company, according to the report. 
    Mahindra did not immediately respond to a Reuters request
for comment.

 (Reporting by Mrinmay Dey in Bengaluru;
Editing by Vinay Dwivedi)
 ((Mrinmay.Dey@thomsonreuters.com;))