Anand Mahindra, chairperson of the Mahindra Group, has praised a group of IIT Bombay students for creating the world's first foldable diamond frame e-bike. Mahindra, who has invested in the startup behind the bike, highlighted its 35% greater efficiency compared to other foldable bikes. He also praised its stability at higher speeds and the fact that it doesn't need to be lifted after folding. Mahindra took his own Hornback X1 for a ride around the office to demonstrate his confidence in the product.