Mahindra Challenges India To Drive Disruptive Innovation
Company launches “Rise Prize,” India’s biggest award for innovation.
Mahindra Completes Purchase Of Navistar’s Stake In India Joint Ventures
Navistar announced in December 2012 its intention to exit the joint ventures as part of its “Drive to Deliver” turnaround strategy, focused on strengthening its North American core businesses and pursuing near-term initiatives to improve the company’s return on invested capital performance. As announced in December 2012, the agreement allows Navistar to continue sourcing components from India while Mahindra would continue to provide engineering services to Navistar. The Navistar group will continue to support M&M through license agreements and extend necessary support to MNAL and MNEPL for the purposes of business continuity.
Mahindra To Purchase Navistar’s Stake In India Joint Ventures
Navistar and Mahindra entered into the MNAL joint venture in late 2005 to manufacture trucks and buses in India, source components and provide engineering services for the design and development of Navistar vehicle products. The MNEPL joint venture was formed in 2007 and began producing engines in 2010.
Navistar Engine Group Launches MaxxForce Power-Gen Line in Middle East
The line will be available to businesses throughout the region and backed by a global service support network beginning late 2011.
IAC Group Acquires Assets of New Delhi-Based Tier-One Supplier
The deal will expand IAC’s manufacturing and engineering capabilities in India.
Navistar Executes Global Growth Strategy; Launches First Trucks for India with JV Partner Mahindra
Mahindra-Navistar joint venture unveils first trucks at India Auto Expo.
IAC Expands Its Global Footprint with Mahindra & Mahindra Contracts in India
MUMBAI, India — International Automotive Components Group (IAC) has been awarded two new contracts to supply instrument panels to a future Mahindra & Mahindra (M&M) utility vehicle and a Mahindra International Ltd. (MIL) medium/heavy-duty truck program. Established in early 2006, IAC today comprises the interior operations and expertise of the former Lear Interior Systems Division
India’s Mahindra & Mahindra Back in Race for Ford’s Jaguar, Land Rover
From AFX News Limited MUMBAI — India’s Mahindra & Mahindra, which had decided to pull out of the race to buy Ford Motor Co.’s loss-making Jaguar and Land Rover brands mid-September, has now revived its interest, The Economic Times reported, citing unnamed industry sources. Ford may welcome M&M’s re-entry as a result of increasing pressure
Navistar Affiliate Enters JV with Mahindra & Mahindra to Manufacture Diesel Engines in India
A wholly owned affiliate of Navistar International has signed a joint venture agreement with Mahindra & Mahindra Ltd. of India to produce diesel engines for medium and heavy commercial trucks and buses in India. The joint venture, to be named Mahindra International Engines Ltd. (MIEL), will be 51 percent owned by Mahindra & Mahindra (M&M) and 49 percent owned by Navistar. The combined investment of the two companies will be $90 million over the next five years.
International Truck and Engine To Manufacture Trucks and Buses in India in Joint Venture
Navistar International’s operating company, International Truck and Engine Corp., said this week it intends to enter into a joint venture with Mahindra & Mahindra (M&M) of India to produce and market light, medium and heavy commercial vehicles for India and export markets.