Mahindra First Choice Wheels raises Rs 94 crore from Valiant Capital
Mahindra First Choice Wheels Ltd (MFCWL), the Mahindra Group’s used-car retail operation, has raised Rs 94 crore (US$ 10 million) from Valiant Capital.
Mahindra First Choice Wheels Ltd (MFCWL), the Mahindra Group’s used-car retail operation, has raised Rs 94 crore (US$ 10 million) from Valiant Capital.
The new infusion of capital will go torwards further expanding MFCWL's dealership network in the country and also infuse new technology.
According to Anand Mahindra, chairman and managing director, Mahindra & Mahindra, and also the chairman of MFCWL, “MFCWL is yet another example of innovation and entrepreneurship within the Group, where new business models are being explored and implemented with persistence. It is exciting to see marquee investors attracted to MFCWL and participating in its growth story. The hybrid ‘brick + click’ model is very powerful in the used car business and over the years we have seen our consumers and dealers appreciate this value proposition. We will continue to invest in the overall growth of the hybrid model in the years to come.”
RELATED ARTICLES
Skoda India makes six airbags standard fitment in Kushaq and Slavia
The introduction of six airbags as standard across the Kushaq SUV and Slavia sedan range furthers the safety quotient in...
Ampere Vehicles to launch new Nexus electric scooter on April 30
The all-new Nexus will be Ampere Vehicles’ flagship scooter. Key highlights include four riding modes, an LFP battery, a...
Uniproducts India targets 15% growth till FY2027, eyes new EV OEMs for NVH parts
The Noida-headquartered company, which is a leading manufacturer of roof liners, floor carpets, sound insulation materia...