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Mahindra & Mahindra Ltd.
BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3542.60
-29.85 (-0.84%) M&M, SsangYong Motor to invest $900 million in next 4 years
Date: 10-01-2013Mahindra & Mahindra (M&M) has decided to invest $900 million jointly with its Korean subsidiary SsangYong Motor Company, in order to introduce new products over the next four years. Other than this, the automaker is also planning to invest Rs 5,000 crore for a three year time period ending 2014.
Country’s major automobile maker is planning to fund this joint investment in next one and one-and-a-half years through a mix of fresh equity, debt and from internal accruals. It had acquired 70% stake in SsangYong Motor Company in March 2011 for which it had shelled out $463 million.