INDIA: M&M to invest US$900m in Mahindra-Ssangyong
By Dave Leggett | 11 January 2013
Over the next four years, Mahindra & Mahindra (M&M) will invest US$900m in products to be developed jointly with its South Korean unit Ssangyong Motor.
M&M's automotive president Pawan Goenka, who is also the chairman of Ssangyong, told Reuters that this investment would be separate from Mahindra's plans to spend INR50bn ($908m) on its own products during the three years ending 2014.
M&M acquired a majority stake in SUV manufacturer Ssangyong for $460m in 2011.
Sectors: Vehicle manufacturers
Companies: Mahindra, Ssangyong
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INDIA: M&M to invest US$900m in Mahindra-Ssangyong
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