Is Anad Mahindra buying Tesla?
There is a news rounding social media that Anand Mahindra owned company Mahindra & Mahindra is buying a stake in Tesla motors.
Tesla Motors is manufacturing electric cars. The move is in line with strategy of Mahindra and Mahindra. Mahindra and Mahindra is top vehicle manufacturing company in India.
If news is to be believe the deal is valued at $1 billion.
This could be true because stock of Mahindra and Mahindra increased when whole market was red.
Today Sensex and Nifty were down about half a percent and Mahindra and Mahindra was up.
This may be an insider news and stock is reacting to that. Something is going on.
Very soon we may hear an announcement on Mahindra and Mahindra buying Tesla. Mahindra & Mahindra is top Indian vehicle manufacturer but it had a failed run when tried electric vehicles. Tesla is really a good bet if deal gets signed.
Indian companies are doing wonders worldwide and we should not be surprised if the news blows out in few weeks.
Tata bought Jaguar and now its time for Tesla.
A company with $10 billion valuation can do this wonder. Hope it happenes so that India has another achievement to speak.