The company is evaluating options to launch the Scorpio, Bolero, Xylo and pickup trucks in the Chinese market. However, no firm decision has yet been taken. In China, the company already has a presence in the tractor segment through Mahindra China Tractors, a joint venture company with and Jiangling Motors Company.
In its first joint venture for tractors abroad, Mahindra & Mahindra has entered into a memorandum of understanding with Jiangling Motor Company Group of China to acquire the latter's tractor manufacturing assets.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Mahindra & Mahindra said on Thursday it was in talks to assemble and sell sport utility vehicles in China, in what would be the first foray by an Indian automaker into the fast-growing Chinese market.
Mahindra and Mahindra on Wednesday said it would attain annual production of 6,000 tractors in China by the end of these fiscal, months after it began operations in the country through a joint venture.\n
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
50-odd biz leaders are part of Modi's entourage for the 3-nation tour
To merge arms, sell stake in combined entity to CIE for Rs 770 cr; to use proceeds to buy 13.5% in Spanish firm for Rs 740 cr
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
Monsoon is expected to be normal in June.
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