MUMBAI (NewsRise) -- Mahindra & Mahindra has picked up a stake in Zoomcar, as India's second-largest utility vehicle maker seeks to entrench its electric vehicle brands in nation's fast-growing car rental market.
Mahindra has taken a 16% stake in Zoomcar Inc., the U.S.-based holding company of the car rental startup, by paying 1.76 billion rupees ($27 million), it said in a statement last week.
