Mahindra, International Ink Truck Alliance
’s Mahindra & Mahindra, and International Truck & Engine Corp. have announced a joint venture, Mahindra International, to manufacture trucks and buses in
Investment in Mahindra International is $80 million. As part of the alliance, Mahindra & Mahindra has transferred its light commercial vehicle business to Mahindra International under a contract manufacturing arrangement with at its Zaheerabad plant.. This, the companies said, will enable the joint venture to start production from its inception pending the launch of the new range of medium and heavy commercial vehicles in 2007.
The joint venture company aims to be in every segment of the commercial vehicle market, the announcement said, from 6 ton GVW to 35 ton GVW with variants of passenger transport, cargo and specialized load applications.
The announcement said the medium and heavy vehicle product range will be engineered to meet Indian requirements. The joint venture's product range and technology will also be focused on serving various export markets in Asia, Middle East, Africa,
The joint venture will use Mahindra & Mahindra distribution network in
The joint venture company will also provide sourcing services and engineering services to International Truck & Engine's North American operations. International said it intends to leverage
Mahindra & Mahindra Ltd. and International will each have five directors on the bard of Mahindra International. Anand Mahindra will be chairman of the board, while the company's management team will be led by Arun Pande, managing director, Mahindra International.