M&M drops U.S. capital plan after loss

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Aborts $500 mn investment amid ₹98-cr. Q1 group loss; seeks investor in Mahindra Electric

Mahindra & Mahindra (M&M) on Friday reported a first-quarter consolidated loss of ₹98 crore and said it had dropped plans to invest $500 million in the U.S. with its unit Mahindra Automotive North America (MANA) exiting a race to supply small delivery trucks to the United States Postal Service (USPS) — a deal estimated at $6.3 billion.


 
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