The board of directors at Mahindra & Mahindra Ltd has given in-principle approval for consolidation of Mahindra Electric Mobility in the company.Mahindra Electricity Mobility is a step-down subsidiary of M & M. The consolidation will categorise EV operations in two focused verticals -- last mile mobility (LMM) and electric vehicle tech centre."Simplifying the structure will drive improvements through innovation, execution excellence, efficiencies and economies of scale," M & M said in a statement. "Additionally, it will unlock shareholder value."The initiative will provide LMM vertical with complete ownership of the value chain for last-mile mobility solutions to drive growth and execution.It will also provide EV tech centre with the depth of resources and energy with M & M's larger ecosystem of product development capability in Mahindra Research Valley (MRV) at Chennai, North America and Europe while exploring partnership and alliances.Executive Director Rajesh ...
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