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Climbing mount Meru: Mahindra’s mobility play has EV synergy; it will need charging from PEs

Climbing mount Meru: Mahindra’s mobility play has EV synergy; it will need charging from PEs
Climbing mount Meru: Mahindra’s mobility play has EV synergy; it will need charging from PEs
Mahindra Glyd lined up on the day of the launch; image credit: Mahindra Glyd via Facebook

Synopsis

The automaker is cautiously building a mobility business on two pillars — its own growing electric-vehicle portfolio and an exclusive focus on enterprise clients. Its pitch to PE investors: the promise of a steady business and a quest for profitability rather than massive scale.

A few weeks ago, Uber chief Dara Khosrowshahi announced the cab-hailing company’s plans to go 100% electric in the US, Canada, and Europe by 2030. Ahead of that, Neeraj Gupta, managing director of Meru, the Indian e-taxi company that pre-existed Uber and Ola and now positions itself as an app-based business-mobility service, announced the same plan — to electrify its whole fleet in the next 10 years. For Gupta, this is part of a comeback plan.
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