Mumbai-headquartered automotive company Mahindra & Mahindra has executed a binding agreement with India-Japan Fund (IJF), a fund managed by National Investment and Infrastructure Fund (NIIF), which will see IJF invest Rs 400 crore in Mahindra Last Mile Mobility (MLMML).
MLMML houses Mahindra’s last-mile mobility business including three-wheelers – Alfa, Treo, Zor – and four-wheeler SCV – Jeeto brands.
IJF is a Rs 4900 crore ($600 million) fund, with Japan Bank of International Cooperation (JBIC) and government of India as anchor investors. The fund focuses on investing in environmental sustainability and low carbon emission strategies, while also promoting investments by Japanese companies into India, including collaboration between Indian and Japanese companies.
