Mahindra Not Interested In Scooters India

Published: Monday, July 11, 2011, 17:23 [IST]

Indian auto major Mahindra and Mahindra has rules out any plans to buy defunct two wheeler firm Scooters India. Speaking to media persons during an event Mahindra and Mahindra president Pawan Goenka has denied the company was eyeing Scooters India.

There had been media reports that Mahindra and Mahindra along with three-wheeler maker Atul Auto were looking to buy a controlling stake in Scooters India.

Scooters India is a two-wheeler manufacturer fully owned by the India Government. The company was famous for building the Lambretta brand of scooters in the 80s. Following reduced scooter sales, the company decided to build three wheelers. This decision turned out to be a disaster and sales collapsed completely. The Indian Government last month decided to sell its stake in the company.

Several companies have reportedly expressed interest in buying Scooters India. However, there has been no confirmation yet.