Mahindra & Mahindra (M&M), a passenger, commercial and utility vehicles maker, today announced the launch of SmartShift-a technology enabled load exchange platform.
The company said, "To ride the digital wave, Mahindra becomes one of the first large corporate groups in the country to initiate a digital mobility platform that is completely under its aegis. It marks the next milestone in the group's journey toward exploring new horizons and rapidly adopting technology to develop new ecosystems."
SmartShift will act as an exchange platform for cargo owners and transporters, enabling them to work with each other.
Anish Shah, group president (strategy), Mahindra & Mahindra, said, ''The goods transport industry in India is a fragmented market. A platform or marketplace that connects load owners and transporters can bring significant efficiencies. The resulting reduction in cost and travel time would delight the end consumer. SmartShift will be the marketplace for load transport within cities.''
Shares of the company declined Rs 9.5, or 0.74%, to trade at Rs 1,270.00. The total volume of shares traded was 17,336 at the BSE (12.39 p.m., Tuesday).