Wednesday, December 26, 2007

Mahindra &Mahindra to gain from Navistar International’s acquisition of General Motors’ medium-duty truck business

As a part of Mahindra & Mahindra's Joint Venture arrangement with Navistar subsidiary International Truck and Engine Corporation (ITEC), M&M gets access to GM brands like Kodiak, TopKick and Isuzu T-Series. The deal also covers GMC and Chevrolet brand vehicles in the class 4-8 gross vehicle weight range.

Flickr: GMC: ThisIsIt2's photos

M&M and ITEC, last month, announced a JV for making diesel engine with additional investments of $90 million over the next five years. The venture, to be owned 51% by Mahindra and 49% by ITEC, will make diesel engines for medium and heavy commercial vehicles.

Mahindra International is building a new facility at Chakan near Pune and will likely kick off with a 25-tonne truck and a nine-tonne export-only bus.

The JV will use M&M’s light commercial vehicles factory at Zaheerabad (in Andhra Pradesh) till the Chakan plant comes on stream.
The Economic Times

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