M&M Gains on Plans to Launch Electric Car in Europe

Shares of Mahindra & Mahindra advanced over 2 per cent to Rs 1,235 in the opening deals after the domestic automobile company said that it plans to launch electric car in Europe in next six months.

 

"The way electric vehicle technology is growing in Europe, we expect it to play an important role there. We are also looking at the opportunity to launch our electric vehicle there and expect to do so in next six months," Mahindra & Mahindra Chief Executive, Automotive Division, Pravin Shah told PTI.

 

Exuding confidence of making a mark in Europe, he said: "Our electric car quality meets the norms there and we are also entitled for support from the governments." 

 

Meanwhile, Mahindra & Mahindra also said that it plans to offer proactive upgrade of airbag software in keeping with its customer-centric approach.

 

At 10,30 AM, the stock was trading higher by 2.2 per cent at Rs 1,236. 
 

(With PTI inputs)