Mahindra Group to double US investment in next 5 years

Sarkaritel
By Sarkaritel July 18, 2017 12:14

Mahindra Group to double US investment in next 5 years


New York, July 18  Indian conglomerate Mahindra Group plans to double its investment in the US within the next five years, the group’s top executives have said.

Mahindra has invested $1 billion in the US market to date, employing about 3,000 Americans and generating annual revenue of $2.6 billion, Xinhua news agency cited Mahindra and Mahindra Managing Director Pawan Goenka as saying.

Goenka said the company plans to invest another billion dollars in the next five years as well as doubling its US headcount as it looks to expand operations.

Also on Monday, the group’s e-bike and e-scooter brand GenZe announced partnership with the logistics platform Postmates to bring zero-emission transportation solutions to New York city and San Francisco.

With an initial deployment of the GenZe 2.0e model e-Scooter and eBike in the countries’ major delivery markets, Postmates plans to expand the partnership to additional locations in its more than 200-city network over the next year.

The electric vehicles will help couriers to speed up delivery by about 20 per cent.

Sarkaritel
By Sarkaritel July 18, 2017 12:14