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HindustanTimes Sun,20 Apr 2014

M&M to invest $900 mn in 4 yrs

HT Correspondent, Hindustan Times  New Delhi, January 09, 2013
First Published: 22:21 IST(9/1/2013) | Last Updated: 22:23 IST(9/1/2013)

Domestic utility vehicle major Mahindra & Mahindra on Wednesday said it will jointly invest $900 million (Rs 4,927 crore) with its Korean subsidiary SsangYong Motor Company to develop products over the next four years. The two companies want to jointly develop two platforms - X100 and B100 and 6 engines in the near future.

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"We will be investing $900 million in four years for development of products jointly with SsangYong," said Pawan Goenka, President  Automotive and Farm Equipment Sectors.

"This is apart from the Rs. 5,000 crore investment that we have planned for a three year period ending 2014."

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