Mumbai-headquartered auto major Mahindra & Mahindra has no plans to bid for tender in the e-bus segment, despite the government’s “payment security mechanism.”
In fact, despite a number of new entrants and existing players entering the electric bus segment, Mahindra has not made any moves in the space. Responding to a query by Financial Express Online, if Mahindra would look at bidding for the government’s tender for electric buses given the price safety mechanism announced by the Finance Minister recently, Rajesh Jejurikar, Executive Director & CEO – Auto & Farm Sector, Mahindra Group said, “We don’t have any plans for entering or bidding for electric buses in the near term. But we would be focusing on gaining market share in the commercial vehicle segment.”
Dr Anish Shah, MD, Mahindra & Mahindra further revealed that there was a time when the company was mulling the future of the commercial vehicle (bus & truck) business and if it made sense for Mahindra to continue its focus there.
“We have no plans to get out of CV Business. We believe it has a strong potential and the focus will be on strengthening the business first,” said Dr Shah.
Interestingly, the company already is a significant player in the LCV segment, thanks to its Bolero and Pik-Up truck portfolio, which have a strong rural and urban connect. Mahindra claims to have a 49.6 percent market share in the domestic LCV market.
What’s more, while the automotive industry is experimenting with several alternate fuels, Mahindra currently seems to have on its part has continued to focus on electric, petrol and diesel vehicles. But it has been working on an alternate fuel roadmap that will be revealed soon. “We already have plans on alternate fuel strategy, which will announce in the future,” said a company spokesperson.
