Mahindra and Mahindra said its electric vehicle unit has merged with it. Mahindra Electric Mobility Ltd (MEML) is now officially merged into the parent company, Mahindra and Mahindra Ltd (M&M), the auto major said in a statement.
The company’s Board had undertaken that MEML would merge into M&M with effect from April 1, 2021, to synergise EV development, manufacturing and sales operations, it said.
The merger process, which has been underway, received the final NCLT approval on January 13, 2023, it added.