Mahindra CIE Automotive’s board has accorded its approval to incorporate a new company as wholly owned subsidiary (WoS) of the company in the name and style of CIE Hosur (New Entity) or such other name as may be approved by the Registrar of Companies. The proposed WoS shall be engaged in establishment and carrying on the business of manufacturing auto components by making greenfield investment to leverage the emerging growth opportunities in mobility space. This will also help in ring fencing of business and operational risk. The Board at its meeting held on July 21, 2021 has accorded its approval for the same.
Mahindra CIE Automotive is a multi-technology automotive components supplier.
