Mumbai: Utility vehicle
and tractor maker Mahindra & Mahindra Ltd plans to market hybrid sport utility
vehicles (SUVs) in the United States.
company has also entered into a joint venture agreement with US-based Navistar
International Corp to manufacture diesel engines in India at an investment of
$90 million over the next five years.
the growing opposition to SUVs in the United States, we have a plan to market
hybrid SUVs," M&M managing director Anand Mahindra said at a conference
on climate change.
company has said it will begin selling its Scorpio SUV in the US from 2008.
Truck and Engine Corporation, a subsidiary of Navistar International Corporation,
signed the joint venture agreement with Mahindra and Mahindra to manufacture diesel
engines for medium and heavy commercial trucks and buses in India, M&M said
in a filing with the Bombay Stock Exchange (BSE).
joint venture, to be named Mahindra International Engines Ltd (MIEL), would be
owned 51 per cent by the Mahindras and 49 per cent by Navistar, the company said.
in India will produce world-class engine models for both the Indian and global
export markets. The JV will not only extend our existing partnership with Navistar
but the resulting synergies will also see MIEL emerge as a force to reckon with
in the global OEM market," Mahindra said.
new company''s technologically advanced diesel engines will power full line of
trucks and buses produced by a planned JV in 2009.
plans to source up to 85 per cent of engine components locally.
is North America''s largest combined producer of commercial trucks, buses and mid-range