Anand Mahindra, Mahindra & Mahindra’s vice chairman, has said that his company is not interested in acquiring either GM’s Hummer or Ford’s Volvo Cars unit.
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Speaking in Davos, Switzerland, at the sidelines of the World Economic Forum, he also told Reuters that he would not rule out other acquisitions.
“We don’t want to acquire other problems,” he said.
“What we will look for is brands and distribution, if we can acquire them cheaply.”
Mahindra told Reuters that Volvo was a great company with a great brand, but added it was not “affordable and digestible.”
On Hummer, he said the brand had unfortunately come to stand for criticism of sports utility vehicles.
“We’re against gas guzzling and [being] non-environmentally friendly. We want to position our vehicles as guilt-free SUVs,” he said, adding that from next month all Mahindra’s utility vehicles would have microhybrid technology as a default option, making them up to 7% more fuel-efficient.
Mahindra hopes to enter the US vehicle market later this year.
