Mahindra Racing to exit Moto3 at end of 2017

New Delhi [India], June 26 (ANI): Mahindra racing, winner of three races in the 2016 Moto3 World Championship, debuting six years ago, will end its participation in the series after the conclusion of the 2017 season to focus more on electric vehicle racing.

In six years, Mahindra made six podium finishes but its performance gradually degraded in and it satisfied at 14th position, which is its best in this season.

Mahindra and Mahindra, the only manufacturer of fully-electric cars in India, is doing quite well in e-vehicles. It recently won its first race in Berlin.

"Formula E is providing us with an excellent international platform to raise awareness of the Mahindra Group, our technological capabilities and our mobility solutions on a global scale," said Ruzbeh Irani, Mahindra Group's President of Group Communications & Ethics and Chief Brand Officer in a press statement.

"Our strategic review of Mahindra Racing and Mahindra's two-wheeler businesses led us to the decision to withdraw from MotoGP. It has been a tremendous journey, and we would like to thank all of our staff, partners and collaborators who have contributed to our success during our seven years in the sport," Irani added.

The company made its first bet on the electric vehicles business in 2010 when it bought into the Bengaluru-based electric car manufacturer Reva Electric Car Company. Since then the company has been progressing in the E-field.

The company has also planned several projects, under the new EV 2.0. It is also the maker of e2o and e-verito electric cars. (ANI)