The Mahindra Group is in talks with taxi aggregators, Ola and Uber for a strategic alliance to offer a wide variety of services, according to reports. Make note, Mahindra is not in talks to buy stakes from either companies, but to offer leasing, financing, and insurance services.
The move follows Mahindra Group Chairman, Anand Mahindra's statement in March, when he said app-based operators pose a threat to the auto industry. He expressed a willingness to embrace them.
Mahindra will provide services like assisting with vehicle leasing and financing, selling used cars, help with information technology operations or providing customised insurance services. Other global players have also been trying similar ideas, but Mahindra will become the first Indian auto company to have such an alliance with app-based operators.
Other carmakers such as Toyota and Volkswagen have invested in Uber and Gett respectively.
Regarding Mahindra's little chat with Uber and Ola, none of the three companies commented on the alliance.