Mahindra & Mahindra Ltd.

Commercial vehicle manufacturer-Mahindra Navistar Automotives (MNAL), a 51:49 joint Venture (JV) between the two global business leaders-Mahindra & Mahindra (M&M) and Navistar Inc. USA, is looking for opportunities to export heavy commercial vehicles (HCV) in Africa and South Africa. The company plans to export HCV between 16 tonnes to 25 tonnes capacity, including tippers in the next fiscal year. The company, so far, has sold 7,000 commercial vehicles since June 2011 in domestic market.

In a separate development, the acquisition of Navistar Group’s stake by Mahindra & Mahindra (M&M) in Mahindra Navistar Automotives (MNAL) and Mahindra Navistar Engines (MNEPL) is expected to be completed within 2-3 weeks.  Back in December, India’s leading SUV manufacturer decided to purchase Navistar International Corp’s two joint ventures in the country in a $33 million deal. Through this initiative, Navistar is cutting costs and weighing asset sales, targeting savings of up to $175 million next year as it looks to turn around its struggling business.