India’s Mahindra Partners, the $1-billion incubation, private equity, and venture capital division of Mahindra Group, has announced that California-based GenZe will join Mahindra Automotive North America, which is headquartered in Auburn Hills.
GenZe started as an incubator-funded business by Mahindra in 2012, developing IoT-connected electric scooters and bikes engineered and manufactured in Ann Arbor.
The company has become a key supplier within the shared mobility category, launching fleet electric bikes and scooters with public operators such as Ford GoBike, Scoobi, and Scoot, as well as fleets in the tourism, delivery, college, and corporate sectors.
“Mobility is rapidly evolving, and we’re adapting to these changes to stay at the forefront of personal transportation,” says Rick Haas, CEO of Mahindra Automotive North America. “Ultimately, we are a mobility business, and we see GenZe as a great addition to our growing portfolio of purpose-designed transportation solutions.”
Routine operations of each company will not change, but the move will leverage Mahindra Automotive’s design, engineering, and manufacturing resources.
“Micro-mobility – in the form of electric bikes and scooters – has become one of the fastest growing segments in transportation as we work to provide last-mile solutions within heavily congested cities,” says Tom Valasek, chief commercial officer for GenZe. “Joining Mahindra Automotive will give GenZe access to resources and scale. We can grow our platform of products faster and continue to build our connected digital offerings.”
GenZe’s initial product offering included a consumer e-bike and the 2.0 electric scooter, the world’s first IoT e-scooter featuring telematics. In 2017, the brand expanded its product lines to include the smartphone-connected 200 Series electric bikes.
Mahindra Automotive North America opened its operation in Auburn Hills in 2017, becoming the first automotive OEM to start manufacturing in southeast Michigan in more than 25 years. The company’s initial product offering includes the ROXOR off-road vehicle, and Mahindra Automotive North America is a finalist for the U.S. Postal Service replacement vehicle program.