M&M won't pump more funds into Pininfarina, seeks external investors

The firm is also "closely monitoring" Peugeot Motorcycles, Mahindra Trucks & Buses and Construction Equipment businesses as their "performance is below expectation"

Mahindra & Mahindra has no plans to make further investments in Automobili Pininfarina (AFP) and is looking for external investors, it said at Edelweiss Singapore Conference 2022. The company is also “closely monitoring” Peugeot Motorcycles, Mahindra Trucks & Buses and Construction Equipment businesses as their “performance is below expectation.”  

The aforementioned businesses have been under performing and have been under review since the last couple of years.

Under the new capital allocation policy that M&M embarked on in 2020, the company had said every investment must generate an 18 per cent return on equity or have a quantifiable strategic impact.