[wheelguy]

The cumulative loss at Peugeot Motorcycles since the takeover in 2015 stands at 129 million Euro (Rs 1,735 crore)

*Image just for representation only.Image source

Nearly five years after continuously absorbing losses in Europe’s premium two-wheeler maker Peugeot Motorcycles (PMTC), its chief promoter Mahindra & Mahindra (M&M) has kick-started the plan to generate profits from the troubled buyout.

A senior M&M official said that the cost-saving measures taken by PMTC in 2018 and 2019 would start resulting into positive earnings. These measures include a restructuring exercise of manpower that resulted in the lay-off of one-fifth of PMTC’s workforce. M&M owns 51 percent stake in PMTC which it bought for Rs 216 crore.

Talking to analysts Pawan Goenka, Managing Director - M&M, said, “I truly believe that the worst is behind us (for PMTC). We had done a major restructuring of manpower at our plant in Mandeure, France and that has been successfully completed. That was a one-time cost incurred and that will then lead to cost reduction in future years.”

Source and full article at MoneyControl

[GTO]

Mahindra really, really needs to focus. Classic example of a company trying way too new businesses, but excelling in hardly any of them.

Scooters = Flop
Motorcycles = Flop
Buses = Flop
Trucks = Flop
Reva Electric Cars = Flop

[wheelguy]

First batch of E-Ludix scooters have been dispatched from Mahindra's Pithampur plat to Peugeot Moto.

The first batch of made-in-Pithampur E-Ludix scooters getting ready to be shipped to Peugeot Moto, France.

Mahindra & Mahindra is seeing new action on the export front – but this time on two wheels. The company’s two-wheeler arm, which has a manufacturing plant at Pithampur in Madhya Pradesh, has shipped its first batch of made-in-India electric Peugeot E-Ludix two-wheelers to Mahindra subsidiary Peugeot Moto. With this, the E-Ludix from Mahindra Two Wheelers becomes the first electric two-wheeler to be exported to the EU.

Anand Mahindra, chairman of the Mahindra Group, tweeted: “Bon Voyage to our 1st batch of electric 2wheelers—Made in India. A global network helps: they’re being shipped to our subsidiary Peugeot Moto. And though it’s not viable yet to sell our genZe & Peugeot electric bikes in India, you can count on us being in the game at some point.”

It was in January 2015 that Mahindra Two Wheelers Ltd (MTWL) and Peugeot Motocycles (PMTC), part of the PSA Group based in France, announced that they had completed the formalities for MTWL’s 51 percent acquisition in PMTC. PMTC (Peugeot Scooters), a key player in urban mobility in Europe for 120 years, is the oldest motorised two-wheeler manufacturer in the world. It has one of the most comprehensive range of scooters and mopeds, from 50cc to 400cc.

The first shipment of the E-Ludix marks a new trajectory for Mahindra Two Wheelers. Its Pithampur plant, which has ample manufacturing capacity of 750,000 units per annum, could be soon buzzing with more activity.

Source: Autocar Professional