160 per cent return: Mega player inks new MoU with NXP Semiconductors to build connected and safer SUVs!
The stock has witnessed significant buying activity as it has given returns of more than 30 per cent in just one year.
On July 17, 2023, Sensex reached an all-time high of 66,656, surging by 0.8 per cent. The Nifty also achieved its record high of Rs 19,731 with a 0.75 per cent surge, reflecting positive investor sentiment and market momentum.
On July 14, 2023, Mahindra & Mahindra Limited has entered into a significant partnership with NXP Semiconductors, a renowned leader in secure connectivity solutions. Together, they will will jointly explore the electric and connected vehicles, encompassing various segments like utility vehicles, light commercial vehicles, farm equipment, and tractors.
Mahindra aims to leverage NXP's expertise in zonal and domain controllers, electrification, advanced vehicle networks, and secure car access technologies to enhance safety, eco-friendliness, and overall customer experience in their upcoming platforms. This strategic alliance underscores Mahindra's commitment to delivering innovative solutions for the future of commuting.
In addition to the collaboration's benefits, Mahindra will gain access to NXP's extensive partner ecosystem, which includes Tier 1, ODM, IDH, module vendors, and integrators. This access will prove invaluable in gaining insights into NXP's technology roadmap, extending into areas such as the Smart Home and Industrial sectors, fostering further synergies and opportunities for both companies.
Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sectors, Mahindra & Mahindra Ltd. said, "We are thrilled to explore opportunities to leverage NXP’s advanced technologies and solutions to build SUVs that are safer, highly connected, and environmentally friendly. At Mahindra, we are driven by our mission to elevate people's quality of life through innovative and cutting-edge technology. Together, we endeavour to shape the future of smart electric mobility and deliver extraordinary experiences to our consumers."
Kurt Sievers, President & CEO, NXP said, “We are excited to collaborate with Mahindra and Mahindra, a company with a rich history of transforming the fast-growing automotive space in India and a focus on striving to improve quality of life through mobility. By working together and leveraging our rich portfolio of technologies, solutions and expertise, NXP and M&M are charting a course to build a brighter tomorrow.”
About Mahindra: Founded in 1945, the Mahindra Group is a prominent multinational federation with a workforce of 260,000 across 100 countries. It holds leadership positions in farm equipment, utility vehicles, IT, and financial services in India and is the world's largest tractor company. With a focus on ESG and community welfare, Mahindra aims to foster positive change and empower people to "Rise."
About NXP Semiconductors: NXP Semiconductors N.V. (NASDAQ: NXPI) is a global leader in secure connectivity solutions, driving innovations to improve the connected world's safety and security. With expertise in automotive, industrial, IoT, mobile, and communication infrastructure, NXP is shaping a sustainable future.
DSIJ offers a service 'multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Today, the shares of Mahindra & Mahindra Limited plunged 0.66 per cent. The 52-week high and low are Rs 1,594.85 per share and Rs 1,124.00 per share, respectively on BSE.
The stock has witnessed significant buying activity as it has given returns of more than 30 per cent in just one year and it has increased by 160 per cent in the last 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.