Navistar Completes Mahindra Venture
Navistar International Corp. has finalized its joint venture with
The joint venture will produce commercial trucks and buses starting in 2007 in an updated Mahindra facility. The factory will include cab assembly, vehicle assembly and a paint shop. The vehicles will have 90% locall content. The combined investment of the two companies in the venture, first announced in June, will be more than $80 million over the next two to three years, Navistar said.
The venture will use Mahindra & Mahindra's distribution network to launch a range of medium and heavy commercial vehicles based on the Navistar unit's existing product platforms, Navistar said. The venture also is expected to export vehicles through its own distribution channel, as well as Navistar's and Mahindra & Mahindra's overseas networks.