The money will be used to develop products jointly.
CarDekho.com - the winner of best and most popular Indian automotive website of the year 2012 has announced the first edition of its awards.
Demand low, regulatory issues seen as bigger hindrances.
The revenue from automotive sales jumped 58 per cent in the quarter, driven by surging demand for SUVs.
M&M's primary target is the Rs 21.7-lakh Toyota Fortuner, that has a 70-per cent market share in its category.
There is the range of new launches during this year's festive season.
The first launch from its Korean arm is produced at the Chakan plant with some localisation, the company said.
Utility vehicles maker, Mahindra and Mahindra (M&M), is considering reinstating the entire staff laid off by South Korean sports utility vehicle (SUV) manufacturer Ssangyong Motor Co in the next two to three years, according to M&M president (automotive and farm equipment sectors) Pawan Goenka.
Mahindra Satyam and Tech Mahindra together have Global Delivery Centres in Shanghai and Nanjing.
The largest-ever foreign investment proposed in India currently lies in no man's land, hobbled by environmental concerns and the inevitable disagreements over the acquisition of land for the enterprise.
Auto Expo 2012 is the venue for the launch of seven all-new automotive brands in India.
In less than two weeks, the 11th Auto Expo will start in New Delhi.
The Mumbai-based entity has yet to apply for a re-certification for federal emissions with the Environmental Protection Agency of the American government.
Nifty crossed the 5,100 mark and ended up 108 points at 5,140.
Auto major Mahindra & Mahindra said it has decided not to acquire the over 95 per cent stake in the beleaguered PSU firm Scooters India at present, as it has "various things" to do.
India's largest utility vehicle maker is also planning to take it own products to the Korean market next year, said Pawan Goenka, M&M president, automotive and farm equipment sector.
Mahindra & Mahindra, India's largest utility vehicle maker, is planning to foray into the premium car segment by bringing out a product from the Ssangyong stable.
Mahindra, which emerged as the preferred bidder for SsangYong in August 2010, will now hold a 70 per cent stake in SMC, for which it has shelled out $463 million (about Rs 2,105 crore).
Homegrown auto major Mahindra & Mahindra today said creditors and shareholders of SsangYong Motor Co (SMC) have given a final approval to a rehabilitation plan, thus paving way for its $ 463 million acquisition of 70 per cent stake in the ailing South Korean firm.
Keeping with its global ambition, homegrown farm equipment-to-software group Mahindra & Mahindra said it will embark on a new brand positioning to project a singular voice for various entities under its umbrella.The group has decided to use 'Rise' as the new brand position.
Mahindra & Mahindra said it will acquire 70 per cent stake in the ailing South Korean auto maker SsangYong Motor for $463 million (about Rs 2,105 crore), in order to become a global utility vehicle major. The companies have signed a definitive agreement to this effect and the acquisition process is expected to complete by March 2011, Mahindra & Mahindra (M&M) said in a statement.
This year has been a year of some great car launches. From hatchbacks to Sports Utility Vehicles (SUVs), every segment has seen the entry of a new model.
Hyundai has managed to maintain this 20 per cent share even though competition has become fierce
Ratan Tata's comments come after another Indian automotive company, Mahindra & Mahindra, is in the process of taking over South Korean auto maker Ssangyong Motor Company, expected to be done by November.
M&M is in the final stages of acquiring troubled South Korean automaker Ssangyong Motor Company.
Mahindra & Mahindra on Wednesday said it will look at sharing vehicle platforms with that of South Korean company SsangYong Motor, the acquisition of which it expects to complete by December.
Auto major Mahindra & Mahindra on Monday said it has entered into an agreement to acquire a majority stake in beleaguered South Korean vehicle maker SsangYong Motor Company. In a filing to the Bombay Stock Exchange, Mahindra & Mahindra said that it has "signed a memorandum of understanding with SsangYong Motor to acquire a majority stake in the South Korean SUV maker."
Mahindra & Mahindra says it has been chosen as the preferred bidder by the beleaguered South Korean auto company SsangYong Motor for acquisition.
A group spokesperson declined to comment on the size of the forthcoming deal. The market capitalisation of the company is $400 million (Rs 1,840 crore).
Tyre maker Dunlop's owner Pawan Kumar Ruia has submitted a bid to acquire South Korea's bankrupt SsangYong Motor, while Mahindra & Mahindra is also understood to have made a similar move.
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company.
Reader R Santhanam sent us this photograph of him, his son and umpire Simon Taufel.
Intelligence officers have been recruited and are being trained at a state-of-the-art intelligence academy, reveals Mumbai Police Commissioner D Sivanandan in an exclusive interview to Sheela Bhatt.
Constructing the Bandra-Worli Sea Link has put the publicity-shy Ajit Gulabchand squarely in the spotlight.
Kareena Kapoor talks about Kambakkth Ishq, and working with Akshay Kumar.
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