M&M to expand in US post deal with Ssangyong

M&M to expand in US post deal with Ssangyong

Mahindra & Mahindra is planning to spread its wing in US, once the deal with Ssangyong is through. The Indian auto major is likely to follow the foot steps of its contemporary Tata Motors by expanding far and wide across globe.The Indian manufacturer, M&M will shift its focus to the US market once the deal with Ssyangong takes full shape. A statement from the senior executive from the Finance and Strategic Development Department of Mahindra India, said that, after acquiring a major share in the Ssangyong, it will help to the company to increase its international business. The company has plans to enter the US market after taking over the Korean company. He also mentioned that, the deal (Mahindra & Ssangyong) will jointly be able to achieve more success in the international auto market. As per the company researche, he said, the SUV segment had a lot of potential to expand in the US market arena. Throwing light on the deal he said, there are some issues which need to be cleared, the talks on it are on. The company expects to close the deal in the beginning of 2011. Ssangyong Motors are known for its automobiles globally. Mahindra India, are SUV makers which will seek the expertise from the Korean company to enhance its international market share. Mahindra & Mahindra India was selected as the bidder for the Korean Company Ssangyong Motors. The company will acquire the debt ridden company which faced the crisis situation due to the recession in the international market. The deal is in its final stage and negotiations are going on with the company. Mahindra & Mahindra in India, one of the largest auto mobile producers is planning to venture in the market and develop four wheel drive based monococque. The company also wishes to expand its bandwidth by adding new vehicles and revamping the old ones. Mahindra Xylo, Mahindra Bolero and Mahindra Scorpio are likely to be revamped. The company is willing to start is ambitious project Reva on the same platform of Mahindra Logan. In India, Mahindra & Mahindra rules the auto market with its four SUVs, these are Mahindra Bolero, Mahindra Scorpio, Mahindra Scorpio W and Mahindra Xylo.

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