SoftBank eyes minority stake in Mahindra Electric Mobility: Report

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26 Aug, 2025 12:21

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Japanese conglomerate SoftBank is considering buying a minority stake in Mahindra Electric Mobility, according to a report in the Business Standard.

The two companies have begun preliminary talks for an alliance, the report suggests.

The electric vehicle (EV) manufacturer — a subsidiary of Mahindra & Mahindra — said a few weeks ago that it is looking for a private equity investor or a strategic partner. Moneycontrol could not independently verify the report.

Spokespersons for Mahindra & Mahindra and SoftBank declined to comment when approached by the newspaper.

The report adds that it is uncertain if a deal will be finalised. Mahindra Electric Mobility is also in talks with potential investors from various categories, including those who can help the company develop EVs, chargers, powertrains and other such products.

Mahindra Electric Mobility's Chief Executive Officer (CEO) Mahesh Babu had on January 21 said that they are also looking at supply EV technology to companies outside the Mahindra Group.

SoftBank has invested $250 million in Ola Electric Mobility, which is valued at $1 billion. Ola Electric Mobility, launched in March 2019, has set a target of putting one million EVs on Indians roads by 2021.

Hyundai Motor Company and Kia Motors also have stakes in Ola Electric Mobility, after participating in a $300 million financing round in October 2019.