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In order to grow its two-wheeler business, <keyword id="45224" type="CITY" weightage="100" keywordseo="Mahindra">Mahindra</keyword> Two Wheelers (a part of $16.5-billion Mahindra Group) has entered into a binding bid of Rs 216 crore to acquire 51% stake in Peugeot Motorcycles. This was announced yesterday after negotiations for several months. 
 <keyword id="156418" type="PERSON" weightage="80" keywordseo="Pawan-Goenka">Pawan Goenka</keyword>, executive director, Automotive business at M&amp;M said that the legal formalities will be done in three months, following which, the new board will have three nominees from Mahindra Two Wheelers and two from the PSA Group. 
 
Goenka said that Peugeot is a “good fit” to Mahindra Two Wheelers. "It is a strong brand, which can sit above Mahindra Scooters. The four areas M&amp;M-Peugeot will work on are building the brand - expedite global expansion, investing in product portfolio and bring together synergies in sourcing and selling," he said. 
 
"We can work together in helping them grow in emerging markets like India, and Africa. We are infusing money so they will have enough headroom to develop new products. They have a very strong technology centre with over 20% of its workforce dedicated for R&amp;D with good styling team, which can have a strong rub-off effect on M&amp;M," he added. 
 
Peugeot is the fifth largest two-wheeler maker in Europe with a market share of 9% and annual volume of 79,000 units.

Mahindra To Buy 51% Stake In Peugeot Motorcycle

The SUVs from Mahindra &amp; Mahindra (M&amp;M) were undisputed rulers on Indian roads until <keyword id="43777" type="CITY" weightage="20" keywordseo="Renault">Renault</keyword> and <keyword id="6355174" type="CITY" weightage="20" keywordseo="Ford">Ford</keyword> came to forefront. And now with the sales of premium SUVs of M&amp;M having seen a slump, the automaker has set in motion a strategy codenamed 'Play to Win'. The goal is to accelerate plans to take competition head-on and rev up <keyword id="34527" type="UNKNOWN" weightage="20" keywordseo="market-share">market share</keyword>. 
 Mahindra took 200 executives from 100 vendors to the <keyword id="304887" type="COMPANY" weightage="20" keywordseo="Doubletree">DoubleTree</keyword> Hilton hotel in <keyword id="71069" type="COMPANY" weightage="20" keywordseo="Warsaw">Warsaw</keyword>, where top company officials told them of plans to attain 26% growth in the automotive segment this year according to the Economic Times. 
 With no major recent additions to models such as Scorpio, Xylo and XUV 500, M&amp;M's sales volumes slumped and it ended the previous financial year with a 37.4% market share in the utility vehicle (UV) segment, from about 55% three years ago. The company lost its third spot in the overall market to <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> Cars India. <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> and <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> are the top two currently. Mahindra is eyeing a quick turnaround in the current financial year, the vendors said. If monsoon is normal, M&amp;M expects sales of 5.37 lakh units in its automotive business, including small commercial vehicles, pick-up trucks, cars and UVs. 
 The UV segment, which makes up for almost half a million units, has attracted many new entrants including the EcoSport from Ford and Renault's Duster. With Maruti <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword>, Hyundai and others lining up new SUVs, competition will intensify. 
 "We are playing to win. We have all the enabling factors for winning including right products," a <keyword id="2886190" type="UNKNOWN" weightage="20" keywordseo="Mahindra-executive">Mahindra executive</keyword> was quoted by the vendors who attended the meeting. 
 
Mahindra is banking on the new models - S101, the micro SUV for small-car buyers and U301 the compact SUV aimed at compact sedan buyers - expected to sell 45,000 to 50,000 units. However there’s some ray of hope with M&amp;M and <keyword id="163594" type="CITY" weightage="20" keywordseo="Peugeot">Peugeot</keyword> teaming up. With the acquisition of 51% of Peugeot Motorcycles in January, it would push the M&amp;M brand for the mass market and Peugeot for the premium end. M&amp;M will look at expanding its footprint with Peugeot in <keyword id="12925" type="ENTERTAINMENT" weightage="20" keywordseo="Africa">Africa</keyword> and Southeast Asia. 
 
On commercial vehicles, with a revival expected in the market and the introduction of new variants, the company hopes to break even in the next two to three years.

Mahindra has a power-packed plan to bring its SUVs back with a bang

<ul><li>The Softbank-backed <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> is now competing with legacy business houses in India like Hero Moto, TVS Motor and Bajaj Auto as well as with startups like Ather Energy and Okinawa Scooters.</li><li>Ola says it will set up the biggest electric scooter manufacturing plant in the Indian state of Tamil Nadu.</li><li>Ola has been rapidly making a shift from being just a cab aggregator app to an electric vehicle manufacturer. The company in 2017 had floated a subsidiary <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword>, which is now a unicorn in its own right with backers like Tiger Global, Matrix Partners and SoftBank.</li><li>With the pandemic, even as the ride-hailing business took a massive hit, Ola Electric has been ramping up its business.</li></ul>Six months after it acquired the Dutch startup Etergo, Ola Electric has announced a ₹2,400 crore ($320 million) investment plan to set up, what it calls, the biggest electric scooter manufacturing plant in the Indian state of Tamil Nadu. The Memorandum of Understanding (MoU) with the Tamil Nadu government is for a factory with an initial annual capacity of 2 million units. “This will be one of the most advanced manufacturing facilities in the world. This factory will showcase India’s skill and talent to produce world class products that will cater to global markets,” said Bhavish Aggarwal, Chairman and Group CEO, Ola in a statement. The factory will produce two wheeler products starting with the electric scooters and the company said it will create 10,000 jobs in the process. The Softbank-backed Ola, whose last reported valuation was $6 billion in May 2019, will now be competing with legacy business houses in India like Hero Moto, TVS Motor and Bajaj Auto, who have decades of experience in the two wheeler space, as well as with startups like Ather Energy and Okinawa Scooters. Ola is more than a cab aggregator now Ola has been rapidly making a shift from being just a cab aggregator app to an electric vehicle manufacturer. The company in 2017 had floated a subsidiary Ola Electric, which is now a unicorn in its own right with backers like Tiger Global, Matrix Partners and SoftBank. With the pandemic, even as the ride-hailing business took a massive hit, Ola Electric has been ramping up its business. In August 2020, Aggarwal in an email to employees said that the company plans to hire 2000 people – 1,000 engineers globally over the next quarter and another 1,000 people across other functions. “Looking forward, our aim is to build electric vehicle products and the required BaaS systems for a global market and across all product segments,” Aggarwal had said then and added that the future belongs to electric and connected mobility and that the team at Ola is working hard to bring out the electric vehicle soon. Targeting the European market, Ola had also brought on board Julien Geffard as the Director of Go-To-Market Strategy for its electric business in Europe. Geffard earlier worked as the Global Commercial Director and a member of the Board of Management at Peugeot Motorcycles, and has also worked with Bentley Motors, Alpine and BMW. Meanwhile Ola, in the US, had also set up an advanced technology center in 2019 which housed engineers who worked on the next-generation technologies in mobility. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/the-difference-between-doordash-zomato-and-swiggy-is-not-in-what-the-companies-do-its-where-they-do-it/articleshow/79715531.cms">The difference between DoorDash and Indian peers Zomato and Swiggy is not in what the companies do⁠ — it’s where they do it</a>

Ola will become a two-wheeler maker with a new electric scooter plant in Tamil Nadu where it is investing ₹2,400 crore

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Carmakers are investing in electric portable mobility transportation by creating either concepts or full-blown new products, including e-bikes and e-scooters, at an increasing pace.</li><li>While concept micro-mobility ideas like Volkswagen's scooters have an uncertain path to production, others, such as Peugeot, already sell a full line of products - and have for years.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Carmakers are increasingly looking towards new ways to move people around, including tapping into the rising trends of e-bikes and e-scooters.Audi announced on Monday the development of its e-tron Scooters, almost a year after announcing its fully electric e-tron SUV. Other carmakers, like BMW and Ford, have already been exploring the electric personal micro-mobility market through collaborating with established players.It's no surprise carmakers are looking towards the booming e-mobility market. E-scooter company <a href="https://www.businessinsider.com/scooter-rental-startup-bird-acquires-rival-scoot-2019-6">Bird</a> reached a $2 billion valuation in under a year of operation in 2018, according to <a href="https://www.inc.com/magazine/201902/will-yakowicz/bird-electric-scooter-travis-vanderzanden-2018-company-of-the-year.html">Inc</a>. Similarly, one of Bird's largest competitors, <a href="https://www.businessinsider.com/new-york-may-legalize-e-scooters-lime-new-model-2019-1">Lime,</a> has a $2.4 billion valuation, the company <a href="https://www.li.me/second-street/lime-2019-new-financing-serve-more-users-around-globe">announced in February</a>.Read more: <a href="https://www.businessinsider.com/coolest-transportation-products-on-indiegogo-right-now-2019-7">These are 12 of the most innovative transportation products on Indiegogo right now, from hover shoes to AI-powered motorcycle helmets</a>Ridesharing companies such as Uber have also been exploring the space. Their e-bike share subsidiary, <a href="https://www.businessinsider.com/uber-raising-prices-on-jump-bikes-in-several-cities-2019-7">Jump</a>, has already launched in several cities, including Providence, Rhode Island and Sacramento, California. Lyft also has a stake in the electric bike ridesharing community, although the <a href="https://www.businessinsider.com/lyft-bikes-fire-san-francisco-fire-2019-7">San Francisco program was recently halted</a> after two bikes caught on fire.Whether it's electric scooters or bikes, here are all the car companies making moves into creating electric micro-mobility products. Get the latest Ford stock price<a href="http://markets.businessinsider.com/stock/f-Quote"> here.</a>

6 carmakers that are betting electric scooters and bikes - not cars - are the future of city transportation

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Enrique De La OsaCar shoppers outside of a Cuban government owned car dealership in Havana</div></div></div>In the first six months since the Cuban government implemented a policy that would allow average citizen to buy cars without special permits, the country's 11 million inhabitants bought a grand total of just 50 cars and four motorcycles from government-sanctioned dealerships, <a href="http://www.reuters.com/article/2014/07/01/cuba-cars-idUSL2N0PC05620140701" target="_blank">reports Reuters</a>. 
Why? Because cars in Cuba are insanely expensive. While the average Cuban state worker makes roughly $20 a month in salary, one Peugeot dealership in Havana is asking $91,000 for a discontinued 206 economy car and a whopping $262,000 for a new 508 family sedan. 
For perspective, at $262,000, the Havana Peugeot dealer is asking more for a family sedan than its American counterparts are asking for a Bentley Continental GT ($180,000) or Ferrari 458 ($234,000), and a price on par with a new Rolls-Royce Ghost ($263,000). 
In comparison, a new 508 can be had for a little as $29,000 in the UK, with some used 206 models available for little more than $1,000. The new law, implemented as a means to raise funds to bolster the country's antiquated public <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">transportation</keyword> system, has led to a staggering 400% mark up over prices before it took effect in January. 
"We're speechless, it's a big surprise. I don't know what the government's strategy is," Antonio, <a href="http://www.bbc.com/news/world-latin-america-25595674" target="_blank">a Cuban car buyer, told the BBC in January</a>. "Maybe this is just a test phase, but the prices are excessive."
Suzanne, another shopper, remarked to the BBC, "The prices are crazy. No Cuban who works for the state can afford to buy at that price. They have zero chance of getting a car."
<div class="KonaFilter image-container display-table"><div><div class="image">Newpress UK/ Peugeot2013 Peugeot 508 sedan</div></div></div>So far, the Cuban government has generated $1.28 million in revenue from the sale of cars and motorcycles with an average transaction cost of $23,700. However, it should be noted that a large portion of these sales have been in the form of second-hand ex-rental cars. 
The 508 in question is Peugeot's latest mass market mid-sized model available throughout the world(except the U.S.) in sedan and wagon form. In production since 2010, power for the practical 508 comes from a variety of gasoline and diesel hybrid power plants that range from an economical 1.6 litre four cylinder to the range topping 2.2 turbodiesel.

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Mahindra To Buy 51% Stake In Peugeot Motorcycle

BI India Bureau

Mahindra has a power-packed plan to bring its SUVs back with a bang

BI India Bureau

Ola will become a two-wheeler maker with a new electric scooter plant in Tamil Nadu where it is investing ₹2,400 crore

Sanchita Dash

6 carmakers that are betting electric scooters and bikes - not cars - are the future of city transportation

Brittany Chang

Cuba's New Auto Sales Policy Is A Total Flop

Benjamin Zhang

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