Mumbai-headquartered automotive major Mahindra & Mahindra has executed a binding agreement to raise approximately INR 3.22 billion for its electric commercial vehicle subsidiary, Mahindra Last Mile Mobility (MLMML). The investment transaction values the last-mile transport business at INR 108.22 billion.

The funding round was led by global investment firm Lightrock, with participation from existing investors International Finance Corporation (IFC) and the India-Japan Fund (IJF), managed by National Investment and Infrastructure Fund (NIIF).

The capital injection follows sales metrics recorded by the subsidiary, including an 85 percent YoY volume increase in electric three-wheelers during the first quarter of FY2027 and sales exceeding 100,000 units in FY2026.

Dr Anish Shah, Group CEO & MD, Mahindra Group, said, “We welcome Lightrock as a partner marking a pivotal milestone in our last mile mobility initiative, highlighting the transformative potential of our growth gems. Our robust business model continues to draw top-tier investors. With Lightrock joining alongside IFC and IJF, MLMML has now achieved unicorn status in the electric vehicle market. This investment brings us closer to our goal of deploying 1 million EVs on India roads by 2031 and solidifies our leadership in the electric commercial vehicle sector.”

Rajesh Jejurikar, Executive Director and CEO - Auto & Farm Sector, Mahindra & Mahindra, said, “This investment from Lightrock reinforces Mahindra Last Mile Mobility’s leadership in the EV space. With around 40 percent market share in the L5 segment, it is at the forefront of a market that has rapidly scaled from 12 percent to 40 percent electrification in just two years. We are proud to be India’s No.1 electric commercial vehicle manufacturer for the fourth consecutive year. Crossing 100,000 EV sales in FY26 and 6 billion e-kilometres cumulatively underscores the trust of our customers and our commitment to driving sustainable, inclusive growth.”

Samir Abhyankar, Partner and Head of India, Lightrock, said, “It is a privilege to partner with the Mahindra Group through Lightrock’s investment in Mahindra Last Mile Mobility. The leadership team has done an exceptional job of building the company from the ground up into a market-leader in electric three-wheelers, underpinned by a focused strategy and outstanding execution ability. Lightrock is excited to support the Group as it continues to build sustainable, high-growth businesses capable of meeting the evolving needs of tomorrow’s India.”

At present, Mahindra Last Mile Mobility holds approximately 40 percent market share in the L5 electric three-wheeler category in India. The fund raised from the round will support product engineering, expansion of manufacturing operations and fleet deployment plans targeting one million electric vehicles by 2031.

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Japanese automaker Nissan Motor Corporation has announced the appointment of Cedric Ratinaud as the new Global Head of Brand, Nissan.

Ratinaud previously served as the Director of Creative and Campaigns for Global Communications at Nissan Motor Corporation, a role he held from April 2024. Prior to that position, he worked as General Manager of INFINITI Global Communications. His background includes two decades in the automotive sector across communications, marketing communications, and brand management roles.

His career at Nissan spans operations across Europe, Asia, and Oceania. Most recently, he served as General Manager of Brand, Marketing, and Communications for Nissan Motor Asia Pacific, operating out of Thailand.

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TVS Supply Chain Solutions has signed a Memorandum of Understanding with Japan-based Sankyu Inc. to collaborate across supply chain and engineering services.

As part of the agreement, Sankyu intends to acquire a 0.5 percent equity stake in TVS Supply Chain Solutions, subject to regulatory approvals.

The partnership combines TVS Supply Chain Solutions' logistics network in India with Sankyu's engineering capabilities and corporate connections in Japan. Initial operations will focus on serving manufacturing and industrial clients in India, where over 1,400 Japanese companies operate.

Future plans include expanding joint operations into regions across Asia, the Middle East, Africa and additional international markets where both firms hold established infrastructure.

To manage operations under the agreement, the companies will form a joint steering committee with representatives from both organisations to identify operational opportunities and oversee joint initiatives.

R. Dinesh, Chairman, TVS Supply Chain Solutions, said, “This partnership represents an important step in our strategy to strengthen our capabilities and create greater value for customers. Sankyu's engineering expertise and deep relationships across the Japanese industrial ecosystem complement TVS Supply Chain Solutions' integrated supply chain capabilities, strong customer relationships and market presence. We share a strong commitment to long-term value creation, and together we are well positioned to deliver more comprehensive solutions, support the evolving needs of manufacturing and industrial customers, and unlock new growth opportunities across India and other strategic markets.”

Kimihiro Nakamura, President and CEO, Sankyu Inc, said, "Since our inception in 1918, Sankyu has been dedicated to supporting the progress of the manufacturing sector, underpinned by our core philosophy of valuing our people. We are profoundly honoured to enter into this partnership with TVS SCS, an organisation that shares our philosophy and commitment to the highest ethical standards. Our two companies possess a strong strategic alignment, and by integrating and complementing our respective strengths, we look forward to achieving collective growth in the global market and contributing to sustainable industrial development."

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Vietnamese automotive company VinFast has expanded the role of its India Chief Executive Officer, Tapan Ghosh, to oversee operations in Indonesia, uniting the company's management structure across both regional markets.

Interestingly, Ghosh becomes Chief Executive Officer for VinFast Operations across both countries, making him the first executive from India to manage multiple markets for the Vietnamese company.

Since joining the Vietnamese brand in 2025 from Hyundai Motor India, Ghosh has managed local manufacturing setups, dealership distribution expansion and product strategies. His new responsibilities will include overseeing the development of a complete knock-down (CKD) assembly operation in Indonesia.

The dual-country manufacturing and distribution setup establishes operational hubs for VinFast across South Asia and Southeast Asia, supporting its strategy to expand production beyond Vietnam.

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Chinese automotive major Geely Automobile Holdings has announced changes to its board of directors and executive leadership structure, effective 18 August 2026, as part of its succession planning framework.

Li Shu Fu has resigned as Chairman of the Board and Executive Director to focus on other business commitments. He has accepted an appointment as Honorary Chairman for Life, a role outside the formal corporate governance structure. Li remains a controlling shareholder of the company and confirmed that he has no disagreement with the board regarding his departure.

On the other hand, Executive Director An Cong Hui has been appointed Chairman of the Board. The board cited An's operational experience within the group and strategic alignment with the controlling shareholder entity as factors supporting the appointment. Independent non-executive directors will continue to oversee potential conflict management protocols under Hong Kong Stock Exchange listing rules.

Further board adjustments include the resignation of Li Dong Hui, Daniel, from the role of Vice-Chairman. He retains his seat as an Executive Director. Gui Sheng Yue has stepped down as Chief Executive Officer and assumed the role of Vice Chairman while remaining an Executive Director.

Following Gui's transition, Executive Director Gan Jia Yue has been appointed Chief Executive Officer. Gan assumes responsibility for managing the group's operational activities and executing long-term business objectives.

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