Mahindra & Mahindra would invest $900 million over the next four to five years in SsangYong Motor of Korea on developing three new vehicles and six engines. M&M bought a majority stake in the Korean company for $463.6 million in 2010. The investment would be from internal accruals, fresh equity and debt. After being acquired by M&M, SsangYong’s sales have improved and have grown by 6-7 per cent in the Korean market. On M&M’s utility
and sports utility vehicles, the company was working on full capacity expansion and fresh versions of Scorpio and XUV500 were expected in future. M&M, which had announced buying out Navistar in its truck joint venture, expects to close the deal by January 31, for which it has applied for various Government approvals.
and sports utility vehicles, the company was working on full capacity expansion and fresh versions of Scorpio and XUV500 were expected in future. M&M, which had announced buying out Navistar in its truck joint venture, expects to close the deal by January 31, for which it has applied for various Government approvals.
No comments:
Post a Comment