India's Mahindra Group to double U.S. investment in next 5 yrs

Source: Xinhua| 2017-07-18 06:39:38|Editor: yan
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NEW YORK, July 17 (Xinhua) -- Indian conglomerate Mahindra Group plans to double its investment in the U.S. within the next five years, the group's top executives said on Monday.

Mahindra has invested one billion U.S. dollars in the U.S. market to date, employing about 3,000 Americans and generating annual revenue of 2.6 billion dollars, according to Mahindra & Mahindra Managing Director Pawan Goenka.

Goenka said the company plans to invest another billion dollars in the next five years as well as doubling its U.S. headcount as it looks to expand operations.

Also on Monday, the group's e-bike and e-scooter brand GenZe announced partnership with the logistics platform Postmates to bring zero-emission transportation solutions to New York city and San Francisco.

With an initial deployment of the GenZe 2.0e model e-Scooter and eBike in the countries' major delivery markets, Postmates plans to expand the partnership to additional locations in its more than 200-city network over the next year.

The electric vehicles will help couriers to speed up delivery by about 20 percent.