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Archive for December 27th, 2007

M&M to drive in to UK in a Scorpio in 2008

Published December 27th, 2007 in Mahendra&Mahendra. 0 Comments

The $ 4.5-billion auto major Mahindra and Mahindra (M&M) may be out of the running for the British marquee brands Jaguar and Land Rover but it will take on the highly-competitive UK market with its flagship model Scorpio next year.

Speaking to ET, M&M, president (automotive sector) Pawan Goenka said, “We will enter the UK market in the middle of 2008 and plan to take our Scorpio platform, with the latest m-Hawk engine, which includes the Scorpio SUV and it’s two pick-up truck variants.” More
Courtesy:economictimes.indiatimes.com

Daimler to hold 60% stake in bus & truck JV with Hero

Published December 27th, 2007 in Tata Motors, DaimlerChrysler India, Nissan, Ashok Leyland and Eicher motors. 0 Comments

German auto major Daimler will hold 60% stake in its commercial vehicle joint venture in India with the Hero group holding the remaining 40%. The total investment in the project will be around Rs 3,500 crore, although the final numbers are still being worked out. Daimler’s investment in the venture will be around Rs 1,650 crore. This pegs the equity component of the Rs 3,500-crore project at around Rs 2,750 crore.

While Daimler and Hero had announced plans for a JV earlier this month, but they did not give out the details then. These figures were communicated by the German company to the government last week. The proposed Rs 3,500-crore investment makes this JV the biggest of the four commercial vehicle partnerships announced this year, namely Tata-Iveco, Nissan-Ashok Leyland and Volvo Eicher. More
Courtesy:economictimes.indiatimes.com

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