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Evo India - - Radar -

The KUV1OO blurs the lines be­tween a hatch­back and an SUV. Mahin­dra will adamantly not ven­ture in to the car space but it will sell you some­thing as small as the KUV1OO, now its most compact of­fer­ing at un­der 4-me­tres and with a pair of 1.2-litre 3-cylin­der petrol and diesel en­gines de­vel­oped from scratch. We’ve seen pro­to­types on test around Pune and could clearly iden­tify the KUV as a compact SUV and not a hatch­back with flared wheel arches and a raised ride height. In­dian cus­tomers like the com­bi­na­tion of SUV styling on a fru­gal car and the Kwid is a prime Mahin­dra will man­u­fac­ture the KUV1OO at its Chakan fa­cil­ity. It is the se­cond mono­coque SUV PECULATION­S ABOUT A pos­si­ble busi­ness merger be­tween Mahin­dra and Euro­pean de­sign house Pin­in­fa­rina have been afoot for a few months now. Bring­ing it all to a head, Tech Mahin­dra – which is Mahin­dra IT and IT so­lu­tions com­pany – have an­nounced that they have bought con­trol­ling stake in the Ital­ian de­sign house. As part of the deal Mahin­dra have bought 76 per cent of shares in Pin­in­fa­rina worth 28 mil­lion USD (`185.6 crore). Mahin­dra has also promised board mem­bers that they will make a pay­out of 120 mil­lion (`795 crore) to Pin­in­fa­rina’s cred­i­tors as well as make an ad­di­tional in­vest­ment to the tune of 20 mil­lion dol­lars (`132.5 crore). This brings up Mahin­dra’s to­tal in­vest­ment in the com­pany to 168 mil­lion dol­lars (`1112 crore).

“We are a strong en­gi­neer­ing ser­vices com­pany and we con­tinue to look for ex­pan­sion op­por­tu­ni­ties in var­i­ous mar­kets and we def­i­nitely be­lieve that au­to­mo­tive en­gi­neer­ing from Europe is right for out­sourc­ing”

As part of the agree­ment, Tech Mahin­dra and M&M shall pur­chase 76.06 per cent of Pin­in­fa­rina shares from the cur­rent con­trol­ling share­holder Pin­car S.R.L. at a price of 1.1 Euro per share. This in­vest­ment by Tech Mahin­dra and M&M shall be done via a joint ven­ture com­pany whose own­er­ship shall be held 60 per cent by Tech Mahin­dra and 40 per cent by M&M.

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