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.