MD Pawan Goenka says Mahindra and Mahindra is also working on several joint projects with South Korean subsidiary Ssangyong as it seeks to protect its core segment of utility vehicles. The tractor-to-technology conglomerate is betting big on markets abroad for its tractor and farm equipment business and envisages half the revenue in the segment coming from markets outside India by FY19. “We are looking at a second home base outside India,” said Pravin N. Shah, president automotive sector at the firm. The company’s Korean subsidiary Mahindra Ssangyong and Mahindra North American Technical Center (MNATC) will play a key role in future product development, said Goenka. M&M is also developing yet another platform with Ssangyong which will spin off models for both Mahindra and Ssangyong.

Source: Mint March 01, 2017 22:52 UTC