Green innovation for sustainable development

In recent years, organisations have notably taken up Green Innovation for sustainable development to maintain the customer base and keep the natural environment safe. Consumers are aware of the current environmental issues, such as global warming and the consequence of environmental pollution. As a result, organisations are demanding to craft green strategies and embryonic to advance holistic methods towards maximising shareholders' values. This paper attempts to provide valuable insights into the going green concepts and their association with the value creation in the automobile industry regarding the e-vehicle by examining the effects of green innovations in Mahindra Electric Mobility Limited, India towards the launching of Mahindra e2oPlus on the Reva platform. Furthermore, the authors analyse the performance of this innovation on the organisational financial performance with the help of event study methodology.