Mahindra & Mahindra Ltd.

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor Company, has inked a Letter of Intent (LoI) with the Shaanxi Automobile Group to set up a manufacturing plant in China. The joint venture, which will become SsangYong’s first overseas production base in a 50:50 partnership with the Shaanxi Automobile Group, will construct production facilities for completely built unit (CBU) vehicles and an engine plant.

The first phase of construction will establish a plant with an annual capacity of 150,000 units per year by the end of 2019 and the second phase will involve an expansion of the facilities to 300,000 units per annum.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.