Mahindra & Mahindra

Anand Gopal Mahindra disclosed an off-market disposal of 867,027 Mahindra & Mahindra shares on 12 August 2026. His direct holding fell from 1,430,008 shares, or 0.11%, to 562,981 shares, or 0.045%. The combined holding of promoters and persons acting in concert declined from 18.14% to 18.07%. Mahindra & Mahindra reported consolidated revenue of ₹58,188 crore and profit after tax of ₹5,455 crore in the June quarter.

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Mahindra & Mahindra announced a dedicated strategic focus on its Holidays and Lifespaces businesses, aimed at accelerating growth and creating operating synergies. Amit Kumar Sinha, managing director and chief executive of Mahindra Lifespace Developers, was designated to become CEO of the combined Holidays and Lifespaces sector once a successor is appointed at the real-estate subsidiary. Mahindra Lifespaces' gross development value reached ₹50,000 crore after rising from ₹8,000 crore over three years, while residential pre-sales grew from about ₹700 crore in FY20 to ₹3,500 crore. Mahindra Holidays had more than 300,000 vacation-ownership members and had added over 1,700 rooms.

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Aug 10 (Reuters) - Mahindra and Mahindra Ltd MAHM.NS:

• MAHINDRA & MAHINDRA - ANNOUNCES DEDICATED STRATEGIC FOCUS ON HOLIDAYS AND LIFESPACES SECTOR TO ACCELERATE GROWTH

Source text: ID:nnAZN4TCV1I

Further company coverage: MAHM.NS

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Aug 6 (Reuters) - Ashok Leyland Limited ASOK.NS:

• INDIA’S FADA: JULY COMMERCIAL VEHICLE RETAIL SALES ROSE 24.04% Y/Y

• INDIA’S FADA: LOOKING AHEAD TO AUGUST’26, DEALER OPTIMISM FIRMS CONSIDERABLY

• INDIA’S FADA: OVERALL, NEXT THREE MONTHS APPEAR DECISIVELY CONSTRUCTIVE

• INDIA AUTODEALERS BODY FADA: JULY OVERALL AUTO RETAIL SALES ROSE 25.89% Y/Y

• INDIA’S FADA: JULY TWO-WHEELERS RETAIL SALES ROSE 28.25% Y/Y

• INDIA'S FADA: JULY PASSENGER VEHICLE RETAIL SALES ROSE 19.13% Y/Y

• INDIA'S FADA: ALTERNATIVE FUELS ARE NOW WITHIN STRIKING DISTANCE OF PETROL IN PASSENGER VEHICLE MARKET

Further company coverage: ASOK.NS

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By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh

NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.

Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.

"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."

SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.

With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.

The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".

The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.

QUESTIONS FROM VEHICLE OWNERS

Vehicle owners are at best sceptical about the U-turn.

"​Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.

The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.

That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.

The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.

The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.

WARNINGS OF CORROSION OR WEAR

In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.

"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.

Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.

It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.

Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.

Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.

(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)

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Adds details paragraph 2 onwards

July 31 (Reuters) - Shares of Hyundai Motor India HYUN.NS jumped 7.2% on Friday after analysts said earnings were likely to improve from the current quarter, with volume growth expected to pick up in the second half of the fiscal year.

Shares of the Creta SUV maker were trading at 2,164.50 rupees as of 09:48 a.m. IST, and were set for their best day since August 2025.

Hyundai Motor India on Thursday posted a 35% drop in quarterly profit in a quarter that was hit by a supplier fire that disrupted production at one of the company's plants, softer exports and higher commodity costs.

However, the company retained its full year operating margin outlook of 11%-14% and volume growth forecast of 8%-10%.

Analysts and investors focussed on that, with many saying that the automaker's new product pipeline, export recovery and capacity expansion were expected to support a growth from the second half of the year onwards.

The "sun" should rise after the festive season in India, analysts at CLSA said, maintaining its "outperform" rating and raising its target price to 2,300 rupees.

Meanwhile, rival Mahindra & Mahindra MAHM.NS posted a strong June-quarter performance on robust demand for its high-margin sport utility vehicles, despite margin pressure from higher steel and rubber costs.

Analysts said strong execution, market-share gains, capacity expansion plans and a resilient tractor outlook offset concerns over commodity inflation.

The Thar SUV maker's shares rose 2.6%, helping lift the Nifty Auto index .NIFTYAUTO by 1.2%.

(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)

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Adds CEO comment in paragraph 3, details throughout

By Saikeerthi . and Chandini Monnappa

July 30 (Reuters) - Indian automaker Mahindra & Mahindra MAHM.NS said on Thursday it would double its auto production capacity over the next five years, after reporting a 6.8% rise in first-quarter profit driven by robust demand.

India's passenger vehicle makers are accelerating investments in electric vehicles as consumer adoption grows and emissions norms tighten, with Mahindra betting on a broader model lineup to challenge rivals such as Tata Motors and Hyundai.

"We're doubling EV production capacity, and that's going to be a key driver of growth over the next few years," Managing Director and CEO Anish Shah said in a post-earnings conference.

Demand in the quarter stayed strong, lifting quarterly revenue 23% to 419.2 billion rupees.

Government tax cuts last September continued to support demand for tractors, Mahindra's most profitable offering, with farm segment revenue rising 19% to 109.47 billion rupees and volumes climbing 18% to 158,000 units.

Revenue in the SUV segment rose 24.4% to 310.33 billion rupees.

However, the company's standalone operating margin in the auto segment narrowed to 7.1% from 8.9% a year earlier, tempering standalone net profit growth to 6.8% at 36.85 billion rupees, due to a sharp spike in commodity costs and supply-chain disruptions following the Middle East conflict.

The automaker said it absorbed about 400 to 500 basis points of commodity inflation during the quarter and raised prices across vehicle segments.

Group Chief Financial Officer Amarjyoti Barua said the company managed higher commodity costs through supply-chain execution while maintaining its focus on profitability.

The company, which rolled out a second round of price hikes on July 8, said future price hikes will depend on commodity prices but it does not have immediate plans for more pricing actions.

Commodity inflation in the farm business remained elevated, although it was lower than in the auto business, Shah said.

Shares of Mahindra & Mahindra rose as much as 3.3% to their highest level in two months after the earnings announcement.

($1 = 95.6900 Indian rupees)

(Reporting by Saikeerthi, Chandini Monnappa and Kashish Tandon, in Bengaluru; Editing by Harikrishnan Nair, Mrigank Dhaniwala and Janane Venkatraman)

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July 29 (Reuters) - Mahindra and Mahindra Ltd MAHM.NS:

• MAHINDRA & MAHINDRA - TO SELL TRUCK & BUS DIVISION TO SML MAHINDRA FOR 5.25 BILLION RUPEES

Source text: ID:nBSEplPvs

Further company coverage: MAHM.NS

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July 22 (Reuters) - Mahindra Holidays and Resorts India MAHH.NS reported a quarterly loss on Wednesday, as it grappled with rising expansion costs.

Here are more details:

• Consolidated net loss stood at 86.6 million rupees ($897,130) compared to a net profit of 78.7 million rupees in the year-ago period

• Profitability was impacted by costs related to international operations that sustained headwinds from geopolitical uncertainties

• The Club Mahindra operator said that certain planned inventory additions were impacted by supply chain disruptions, material availability challenges, and labour shortages

• Mahindra Holidays has been aggressively expanding its resort footprint, aims to add 10,000 keys by fiscal year 2030

• The company said it remains on track to add about 1,000 keys this year

• Consolidated revenue from operations for the April-June quarter was up 4.5% to 7.33 billion rupees

• Expenses rose to 7.76 billion rupees from 7.13 billion in the year-ago period

• The company flagged continued weakness in its Finland-based Holiday Club Resorts due to a slowdown in the Finnish economy

($1 = 96.5300 Indian rupees)

(Reporting by Saikeerthi in Bengaluru, Editing by Subhranshu Sahu)

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Adds details and background

July 21 (Reuters) - India's top carmaker Maruti Suzuki MRTI.NS said on Tuesday it would increase vehicle prices by up to 30,000 rupees ($311.74) from August, its second portfolio-wide hike in about two months, citing sustained cost pressures.

Here are more details:

• The automaker had earlier announced a similar price hike of 30,000 rupees from June, while offering price protection to some entry-level cars

• The renewed Middle East conflict has disrupted global trade routes and energy markets, driving up prices of key inputs and pressing companies to pass on higher costs to customers

• With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, Maruti said in a statement

• Company joins peer Tata Motors Passenger Vehicles TAMO.NS, which has also raised prices twice while Mahindra & Mahindra MAHM.NS and Hyundai Motor India HYUN.NS have raised once each

• Shares closed 0.6% higher at 13,597 rupees reversing course from earlier in the day

($1 = 96.2325 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Nivedita Bhattacharjee)

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By Aditi Shah

NEW DELHI, July 20 (Reuters) - For some 40 years, Suzuki cars dominated India's roads.

The Japanese company's relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and four-fifths of the country's new car sales in recent decades.

But as Indians got richer, they gravitated to bigger and flashier rides – and the automaker's emphasis on affordability started to become a drag. Maruti Suzuki's share of the world's third-largest autos market now lingers at around 39%, near an all-time low.

Suzuki's struggles reflect how cost-sensitive managers in Japan were slow to adapt to the changing tastes of newly affluent Indians, four people familiar with its business told Reuters. Executives, the people said, for years felt that demand for sunroofs, advanced technology and SUVs hadn't trumped questions of affordability for Indians.

Reuters is reporting for the first time details about the deliberations between Indian and Japanese executives at Suzuki as they struggled to pivot beyond a long-successful strategy that emphasized value before almost everything else.

Maruti Suzuki managers first floated the idea of adding sunroofs about a decade ago, the people said. But Japanese bosses considered the feature – which has become a symbol of upward mobility in India – impractical given India's extreme heat and dusty roads. They worried that adding a more powerful air conditioning unit and strengthening the cabin to accommodate the panel would increase costs and distract from Suzuki's mission of providing affordable transport.

The carmaker didn't introduce sunroofs until 2022. By then, fast-growing domestic rivals Tata Motors and Mahindra & Mahindra — which both currently have a market share of around 14% — had sunroofs as standard features on between a quarter and a third of their cars sold in India, according to data from auto research firm JATO Dynamics.

This account of the missteps that eroded Suzuki's iron grip on India and its subsequent efforts to woo customers back is based on interviews with more than 20 people, including executives, suppliers and others with direct knowledge of the automaker and its Indian business. Most spoke on condition of anonymity because they were not allowed to talk to the media.

Maruti's head of corporate affairs, Rahul Bharti, said in an interview that Japanese managers were not reluctant to embrace the changing tastes of local customers. Instead, he said, they had prioritized factors such as cost and climate, as well as emissions and safety considerations.

Indian and Japanese executives engage in "extensive" talks before introducing products and new features, Bharti said. Maruti's market share had declined recently because of a collapse in demand for small cars, the automaker's slow rollout of SUVs and its 2020 decision to stop selling diesel cars, he added.

While it is committed to building affordable and compact models, Suzuki has now directed local managers to "pay more attention to the Indian customer," Bharti said.

Tata and Mahindra did not return requests for comment.

To be sure, Maruti Suzuki still runs a lucrative business in India. Revenue has more than doubled over the last five years to $19 billion and profit tripled to $1.5 billion as margins improved. About 60% of the 3.3 million cars Suzuki sold in the last financial year were in India, and Maruti contributed nearly half of its profits.

But while it is making more money from selling fewer cars, the company has fallen short of chief executive Toshihiro Suzuki's goal of owning half the market.

Maruti Suzuki also risks being seen by younger drivers as a "brand for their parents or grandparents," said Toshihide Kinoshita, an automotive analyst at Nomura Securities.

In India, the typical buyer of a new car is in their mid-30s. The average age in the United States is 51, according to data from Cox Automotive.

THE PEOPLE'S CAR

Japanese car manufacturers increasingly see India, the world's fastest-growing major economy, as a lifeline.

Many face an existential threat in traditional strongholds like Southeast Asia from the low costs and fast-paced innovation of Chinese rivals. They are also being squeezed by tariffs in the United States and slow growth at home as Japan's population shrinks.

Chinese EV makers, however, are largely shut out of India, which has increased scrutiny of investments from China after a deadly border clash between the two countries in 2020. Japanese carmakers sense the opportunity: Toyota and Suzuki have announced plans to spend a cumulative $11 billion to expand manufacturing and other operations in India by 2030.

Maruti Suzuki is now a symbol of Prime Minister Narendra Modi's push to turn India into a global manufacturing hub.

Suzuki first invested in Maruti in the early 1980s when the Indian brand was state-owned. Then-Prime Minister Indira Gandhi wanted to provide a "people's car" to fulfill the dream of her late son Sanjay, an autos enthusiast who had sought to bring affordable mobility to the middle class.

The Maruti 800 arrived in 1983. It was priced at around $9,000 in inflation-adjusted dollars and became synonymous with India's modernization. Over three decades, Maruti sold nearly 3 million of the small hatchbacks. Such was the scale of Suzuki's dominance in India that its former CEO Osamu Suzuki said he aimed to keep a 50% market share "for eternity."

India's economy has grown some 18-fold since Suzuki entered the market. Yet Suzuki's cost-control culture meant managers initially faced resistance when they lobbied to offer advanced driver assistance systems that Mahindra introduced around 2021, some four years before Maruti, three people said.

For many buyers, the modernity and aspiration that Maruti once represented is found in Tata and Mahindra's feature-laden SUVs, rather than Maruti's workaday models. Maruti does not have "the bells and whistles" that customers now want, said JATO Dynamics president Ravi Bhatia.

One erstwhile loyalist looking elsewhere is Anil Tiwari, who is seeking a car to supplement his family's 17-year-old Maruti Alto hatchback. The insurance agent has narrowed his choices down to a Mahindra or Toyota SUV after his wife and children demanded a sunroof and a large infotainment display, among other technologies.

"My wife and children want the best," he said.

FIGHTBACK?

Maruti has been here before. Its market share dipped below 40% in 2011, though newer models and an expanded sales network helped it recover.

This time, competition is fiercer. Better equipped rivals and the fall in market share mean Suzuki now faces its toughest situation in India "in the last 40 years," chief executive Suzuki told reporters at the Tokyo auto show last year.

In an attempt to regain dominance, Suzuki is expanding R&D teams at Maruti and giving executives flexibility to make more decisions locally, five people told Reuters. It aims to cut the average product development time to 36 months from 48 months, four sources added.

Maruti has also built more car-testing labs in India to speed up design and execution, Bharti told Reuters.

Maruti has introduced pricier and more design-forward cars, including a three-row minivan that starts at about $25,000. It plans seven more SUVs by 2030, which will join a recently released model that has a sunroof and advanced driver assistance systems.

The brand is also reversing its decision not to use large display screens in some vehicles, according to three sources, who said Japanese executives had felt they would be a distraction for drivers.

Bharti confirmed that Maruti and Suzuki executives had discussed those concerns. Large displays and similar features are always "on the cards," he said, though the company continues to weigh customer demand against the realities of Indian driving conditions.

One open question is whether Maruti's more expensive cars will sell. The brand's association with affordability means Indians willing to spend more usually don't consider Maruti, six people told Reuters. Less than 3% of Maruti's sales come from cars priced above $15,500, compared with over 21% for the rest of the industry, according to JATO Dynamics.

That perception is shaping the choice for buyers like Deepanshu Singhal, a sales executive who plans to upgrade to a Mahindra or Toyota SUV from the Maruti Dzire sedan he has driven for seven years.

"I'd rather spend a little more money for a better car that has some freshness and newness," he said.

(Reporting by Aditi Shah; Additional reporting by Daniel Leussink in Tokyo, Saurabh Sharma in New Delhi, Sumit Khanna in Ahmedabad and Jatindra Dash in Bhubaneswar; Editing by David Dolan and Katerina Ang)

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July 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JUNE TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,88,144 UNITS

• SIAM - INDIA'S JUNE 2-WHEELER SALES 18,51,400 UNITS

• SIAM - INDIA'S JUNE 3-WHEELER SALES 77,951 UNITS

• SIAM - OVERALL CONSUMER SENTIMENT AND DEMAND REMAIN STEADY AT PRESENT

• SIAM: INDUSTRY CONTINUES TO CLOSELY MONITOR GEOPOLITICAL DEVELOPMENTS AND PROGRESS OF MONSOON

Further company coverage: ASOK.NS

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July 6 - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: JUNE OVERALL AUTO RETAIL SALES ROSE 21.83% Y/Y

• INDIA’S FADA: JUNE TWO-WHEELERS RETAIL SALES ROSE 21.22% Y/Y

• INDIA’S FADA: JUNE PASSENGER VEHICLE RETAIL SALES ROSE 28.63% Y/Y

• INDIA’S FADA: JUNE COMMERCIAL VEHICLE RETAIL SALES ROSE 16.88% Y/Y

Source text: [ID:]

Further company coverage: ASOK.NS

** Shares of India's Mahindra and Mahindra Financial Services MMFS.NS jump 3.79% to 330.25 rupees

** Company reported first-quarter disbursements rose 21% y/y, while gross business assets grew 12.5% y/y

** Jefferies ("hold", TP:325 rupees) says tech-led underwriting and centralized loan processing have improved turnaround time, productivity and underwriting consistency, though it remains cautious on weak monsoon risks

** Motilal Oswal ("buy", TP:318 rupees) says healthy disbursement growth and stable asset quality, along with comfortable liquidity position, support co's operating outlook

** MMFS rated "buy" on average by 33 analysts, median PT at 350 rupees, according to LSEG-compiled data

** YTD, stock down 18.11%

(Reporting by Surbhi Misra in Bengaluru)

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July 1 - Mahindra and Mahindra Ltd MAHM.NS:

• MAHINDRA & MAHINDRA - OVERALL AUTO SALES FOR MONTH OF JUNE 2026 AT 1,06,207 VEHICLES, A GROWTH OF 37%

Source text: [ID:]

Further company coverage: MAHM.NS

MUMBAI, June 17 (Reuters) - India's Mahindra and Mahindra Financial Services MMFS.NS accepted bids worth 9.35 billion rupees ($98.90 million) in a sale of bonds maturing in three years, three bankers said on Wednesday.

It will pay a coupon of 7.90% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 17:

*Size includes base plus greenshoe for some issues

($1 = 94.5400 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

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June 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,38,854 UNITS

• SIAM - INDIA'S MAY 3-WHEELER SALES 70,720 UNITS

• SIAM - INDIA'S MAY 2-WHEELER SALES 19,02,209 UNITS

• SIAM - LOWER BASE EFFECT OF PREVIOUS MAY, DEMAND CREATED DUE TO REDUCED GST RATES GETTING REFLECTED IN HIGHER OFF-TAKE THIS MONTH

Further company coverage: ASOK.NS

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By Munsif Vengattil and Aditi Shah

BENGALURU, June 12 (Reuters) - India has scrapped a licence requirement for radar sensors, freeing automakers to adopt technology that helps cars avoid crashes and drive themselves by sensing surrounding objects, in a bid to make some of the world's deadliest roads safer.

The world's third largest car market, India reported more than 177,000 deaths in nearly half a million road accidents in 2024, the latest figures show.

In a notice on Thursday, the government waived the licence requirement for radar sensors operating in the frequency band from 77GHz to 81 GHz. That lets companies enable the technology without the government having to separately assign the airwaves.

Automakers Maruti Suzuki MRTI.NS, Tata Motors TATM.NS and Mahindra & Mahindra MAHM.NS, stand to benefit from the change, as well the suppliers behind them, such as Germany's Bosch and Continental.

The radar sensors let a car gauge safe distances, and drive features such as emergency braking, adaptive cruise control and blindspot warnings, to form a basis for autonomous driving.

The change brings India in line with the United States, the European Union and a global telecoms standard, all of which dedicate the same frequency band to vehicle radar.

That lets carmakers and suppliers tap into the same off-the-shelf hardware worldwide, rather than having to build an India-specific version.

(Reporting by Munsif Vengattil and Aditi Shah; Editing by Clarence Fernandez)

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June 8 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: MAY OVERALL AUTO RETAIL SALES ROSE 9.55% Y/Y

• INDIA’S FADA:MAY PASSENGER VEHICLE RETAIL SALES ROSE 23.25% Y/Y

• INDIA’S FADA:MAY COMMERICAL VEHICLE RETAIL SALES ROSE 5.29% Y/Y

• INDIA’S FADA: MAY TWO-WHEELERS RETAIL SALES ROSE 7.54% Y/Y

Source text: [ID:]

Further company coverage: ASOK.NS

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By Gabriel Araujo

RIO DE JANEIRO, June 7 (Reuters) - Brazilian planemaker Embraer EMBJ3.SA expects India to move ahead in the coming months with a military transport aircraft tender in which its C-390 Millennium is a key contender, Chief Executive Francisco Gomes Neto told Reuters.

• India is set to issue a request for proposal (RFP) covering between 60 and 80 aircraft, Gomes Neto said on the sidelines of a global meeting of airline executives in Rio de Janeiro on Saturday.

• "The information we have is that the RFP should come in the next few months," he said.

• "And what we hear in the Indian market is that they want to make a decision by the end of 2027, which would be a very interesting time frame," he added.

• Embraer has been seeking to boost global sales of the C-390, and sees India as a strategic market.

• The aircraft is a major competitor to Lockheed Martin's LMT.N C-130 Hercules.

• Embraer has partnered with India's Mahindra MAHM.NS on the C-390.

(Reporting by Gabriel Araujo; Editing by Paul Simao)

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Recasts with company confirmation in lede

By Aditi Shah

NEW DELHI, June 3 (Reuters) - Tata Motors will use an automaking platform from Chery to locally build electric cars under its premium Avinya brand, underscoring the dependence on Chinese technology after its original plan with Jaguar Land Rover was shelved.

Reuters first reported that Tata TAMO.NS will use Chery's 9973.HK platform to launch its Avinya EV, as India's biggest electric carmaker seeks to get its long-delayed programme back on track and maintain its pole position.

Tata told Reuters in a statement it will leverage the Freelander platform produced in a joint venture between Chery and Jaguar Land Rover in China, with the cars being manufactured at its newly opened factory in Tamil Nadu in southern India.

While Chinese carmakers remain largely shut out of the world's third-largest auto market, their technology is quietly becoming hard to avoid, as local manufacturers lean on it to stay competitive in the global EV race.

The first Avinya model on Chery's platform is due in 2027 and will be shipped from China as a kit and assembled in India, two people familiar with the matter said, with efforts to source localised components already underway. A second EV is due for launch in 2029, with scope for two more vehicles beyond that, one of them said.

The strategy marks a pivot from Tata's original plan to use JLR's electrified modular architecture (EMA) for Avinya models targeted for 2025. That roadmap collapsed last year when JLR shelved plans to build EMA-based EVs in India, forcing Tata into a reset, Reuters previously reported.

Chery's platform deal is expected to make up for the lost time, granting Tata access to advanced features and technology it would otherwise take longer and more capital to develop, the people said.

"Avinya is being developed as a global premium brand. Our collaboration with JLR and its partners will be an important pillar," Tata said.

Chery told Reuters in a statement that its agreement with Tata builds on the success of its collaboration with JLR.

"Chery will act as a supplier to Tata Motors Passenger Vehicles. Each project operates under its own separate agreement with standard commercial terms," the Chinese carmaker said.

JLR in 2024 tapped Chery, a longtime partner, to develop and build electrified cars, including EVs and hybrids, under its resurrected Freelander brand. The cars will be based on the Chinese company's architecture and built at its factory in Changshu.

The deal with Chery is a "stopgap arrangement" because without fresh products, Tata risks losing its EV lead, one of the people said, adding the company still intends to develop its own dedicated platform over time.

All of the people declined to be identified because they are not authorised to speak to the media.

INDIAN COMPANIES LEAN ON CHINESE TECH

Electric models make up 14% of Tata's total sales with a target to more than double that to 30% by 2030. But rivals Mahindra & Mahindra MAHM.NS and JSW MG Motor are closing in on its lead, exposing gaps in its EV line-up and raising the risk of further market share losses.

The deal talks reflect a broader shift underway in India's automotive industry. India's automakers are increasingly importing China's EV technology while avoiding deeper equity partnerships due to political sensitivities.

Since 2020, New Delhi has placed strict curbs on investment from neighbouring nations mainly targeted at China, effectively freezing large-scale participation in the auto industry. While restrictions have eased slightly in sectors like electronics, carmakers still face high barriers.

JSW Motor, the independent carmaking venture of steel-to-cement billionaire Sajjan Jindal, also has a similar platform licensing deal with Chery.

Indian car companies have increased their spending on research and development of new technologies and powertrains in recent years, but like many global peers they are unable to match China's speed, cost and tech prowess in EVs.

Chery, China's largest car exporter, has rapidly expanded its global footprint.

Drawing inspiration from Toyota and Tesla, the Chinese automaker has pursued joint manufacturing arrangements with foreign companies across key markets, including Europe, Southeast Asia and Latin America.

(Reporting by Aditi Shah and Zhang Yan; Editing by David Dolan, Shri Navaratnam, Kevin Buckland and Louise Heavens)

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** Shares of Mahindra and Mahindra MAHM.NS down 2.4% at 2,972 rupees

** India forecasts an El Nino-weakened monsoon in 2026 that will bring the lowest rainfall in 11 years

** Muted rainfall could potentially dampen near-term demand sentiment for domestic automotive industry, thereby capping the volume growth envisaged for the current fiscal year at 8-10% - ICICI Securities

** Brokerage says the muted monsoon forecast is sentimentally negative for M&M in the tractor space

** Stock set to drop more than 2% for the 2nd straight session

** Avg rating of 34 analysts covering the stock is "buy" and median PT is 4,200 rupees - data compiled by LSEG

** YTD, MAHM down ~20% while Nifty Auto index .NIFTYAUTO down ~8%

(Reporting by Anuran Sadhu in Bengaluru)

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By Aditi Shah and Neha Arora

NEW DELHI, May 29 (Reuters) - China's SAIC Motor will sell a further 10% stake in its Indian carmaking venture, JSW MG Motor, two sources with direct knowledge of the matter told Reuters, in a deal that will make local partner JSW the biggest shareholder of the unit.

The decision follows SAIC's struggles to bring in equity and expand its operations due to New Delhi's investment curbs, even after it trimmed its 100% ownership of the company and brought on board domestic partners, including billionaire Sajjan Jindal's JSW Group.

SAIC 600104.SS currently owns a 49% stake in JSW MG Motor. The sources said it will sell a 10% stake to JSW, whose stake will then rise to 45% and make it the largest individual shareholder.

"Discussions are on, and JSW plans to close in a month. SAIC has agreed," said one of the sources.

The second source said the deal will give JSW greater operational control and oversight of the business. The sources spoke on condition of anonymity because they were not authorised to speak to media.

SAIC, JSW and JSW MG Motor did not respond to requests for comment.

The sources did not know the value of the deal. When JSW Group bought its initial 35% stake two years ago, the unlisted unit was valued at $1.2 billion.

The first source said SAIC would re-invest about 6 billion rupees ($63 million) of its proceeds into JSW MG Motor to launch new cars, including extended-range EVs and hybrids, in a manner that would not change its shareholding.

Talks between the two companies began last year with JSW offering to buy most of SAIC's share to become the venture's single-largest shareholder, Reuters had reported, but a disagreement on the valuation prevented a deal at the time.

JSW MG Motor, India's second-largest EV maker, has previously said it plans to invest up to $418 million to launch new cars and more than double its production capacity in the world's third-largest car market to 300,000 units a year.

While the company's sales have been rising, helped mainly by the Windsor EV, its losses have widened and competitors such as Mahindra & Mahindra MAHM.NS are eating into its EV lead.

SAIC entered India in 2019 with plans to invest more than $650 million in the country but has been unable to meet that target after the Indian government put investment curbs in place in 2020.

Rival BYD Co 002594.SZ, which entered India in 2021, also had plans to invest $1 billion for car manufacturing but is yet to get an approval from New Delhi to bring in funds.

While there has been a thaw in frosty relations between India and China in recent months, with New Delhi making it easier for Chinese firms to invest in sectors such as electronics, it is yet to lower the guardrail for carmakers.

($1 = 95.6863 Indian rupees)

(Reporting by Aditi Shah and Neha Arora; Editing by John Mair)

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May 14 (Reuters) - Mahindra and Mahindra Ltd MAHM.NS:

• MAHINDRA MAHINDRA - MOICML SELLS REMAINING 3.58% STAKE IN CIE AUTOMOTIVE S.A FOR EUR 126 MILLION

Further company coverage: MAHM.NS

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MUMBAI, May 12 (Reuters) - India's M&M Financial accepted bids worth 8.55 billion rupees ($89.5 million) in a sale of bonds maturing in one year and nine months, three bankers said on Tuesday.

The non-bank lender will pay a coupon of 7.9% and had invited commitment bids for the issue on Monday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 12:

* Size includes base plus greenshoe for some issues

($1 = 95.5325 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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Rewrites throughout with company's comments from earnings call

By Kashish Tandon

May 8 (Reuters) - Hyundai Motor India HYUN.NS said on Friday that it expects domestic sales to grow 8-10% in the current fiscal and plans to invest $794 million to double capacity at its Maharashtra plant, as the carmaker rides a demand boost following tax cuts.

Vehicle sales in India have picked up since New Delhi lowered consumption taxes last September, lifting showroom footfalls.

Last month, however, the company said it would increase prices of its vehicles by up to 1% from May to combat rising commodity costs linked to the Iran war, joining domestic leader Maruti Suzuki MRTI.NS and global peers such as Mercedes-Benz MBGn.DE and BMW BMWG.DE.

The Creta SUV maker said it plans to double capacity at its Talegaon plant, near Pune city, to 320,000 units by the end of fiscal year 2027 and will also launch two new models, including a new electric SUV.

The market environment shifted meaningfully in the second half of fiscal 2026 following the government's tax overhaul, CEO Tarun Garg said in a post-earnings call.

For fiscal 2026, domestic sales were down 2.3%, underscoring the subdued demand that carmakers were seeing before the tax cuts took effect.

India cut levies on small cars and vehicles measuring less than four meters to 18% from 28%, lowering prices and lifting demand for price-sensitive models.

Exports have remained a bright spot for Hyundai, with fiscal 2026 exports rising 16.4%.

The Indian unit of South Korea's Hyundai Motor 005380.KS reported consolidated profit of 12.56 billion rupees for the fourth quarter, down from 16.14 billion a year earlier, but above analysts' estimate of 12.37 billion rupees, according to data compiled by LSEG.

Revenue rose 5.4% to 189.16 billion rupees.

($1 = 94.4800 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Sonia Cheema)

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