The very popular automobile maker Mahindra owned an electric two-wheeler brand called GenZe and that particular brand is belong to the United States. Well, now the company has announced an important decision which will make users sad if they are planning to purchase a green vehicle. As the company confirms that the operation of its subsidiary brand will be shut down within the period of 6 months. Having said that, the company said that the financial report of the quarter forced to take this important decision.
GenZe, electric two wheeler brand which operates in the United States and the company manufactures electric bicycles and scooters, the products of the brand offered on a public bike sharing system in the United States and the electronic scooters used for the delivery and more. Mahindra even tested the vehicle in India as well a couple of years ago, and now the company has announced to the harshest decision which is to shut down the company and the main reason is the net loss of 3,255 crore in the quarter from January to March 2020.
Personally speaking, it is very sad to know that Mahindra is taking this kind of decision as people started to express interest for the green vehicles and also the environment requires the petrol and diesel free vehicles because we need to bring back the beauty of the nature. Moreover, the coronavirus affected all the industry and the company should fight and come back into the industry.
We would like to hear your thoughts about the shut down decision of Mahindra GenZe in the comments section below and stay tuned with us for more interesting news from the world of automobiles at your fingertips.
We recommend you to keep browsing AutoBugg to get more interesting news from the world of automobiles and also for amazing tips & tricks for your vehicle that will help you to bring out maximum from your companion. You can follow us on Facebook, Twitter, and Instagram to get the notifications instantly.