The $19-billion diversified Mahindra group is set to foray into the highly competitive ride-hailing and cab aggregation business – currently dominated by the likes of Uber and Ola – as chairman Anand Mahindra believes that the days of personal commuting may be limited, especially in congested cities and metros. Electric vehicles will be the preferred choice for the ride aggregators, as demand for petrol and diesel cars starts “tapering off”. 8 India-first features in Uber
Mahindra said segments such as “plain-vanilla sedan” are a “threatened species” as more and more individuals opt for shared mobility to save the hassles of new car purchase, insurance, maintenance, and parking. “Even my daughters have no intention of owning a car for commuting. This reality is now at home,” Mahindra told TOI on the sidelines of the Formula-E (electric) Racing here.
“There will be a leveling off, or a sinking in the personal commuting segment.There will be a dramatic shift […]