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Mahindra And Mahindra Ltd To Invest $900 Million To Develop Platforms With Ssangyong Motor Co., Ltd.-Economic Times

Thursday, 10 Jan 2013 05:30am EST 

The Economic Times reported that Mahindra And Mahindra Ltd is investing $900 million (INR4,950 crore) over the next four years to develop three new platforms and six engines in collaboration with its South Korean subsidiary Ssangyong Motor Co., Ltd. The Company would invest an additional 5,000 crore for developing products indigenously till the end of 2014. The company will also invest another 200-250 crore over the next three years in its local commercial vehicle subsidiary, Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Private Ltd (MNEPL). M&M has already announced plans to buy out Navistar Group's stake in both the ventures.