NamasteIndia automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group have agreed to set up a $3 billion joint venture to build a car manufacturing plant in India and are awaiting New Delhi’s approval.
Joint Venture: Mahindra & Mahindra (India) and Shaanxi Automobile Group (China)
Investment: $3 billion
Majority Stake: Mahindra & Mahindra
Location: Proposed in Gujarat, India
Focus: Manufacturing assembled cars, engines, and car batteries
Types of Vehicles: Electric vehicles (EVs), commercial vehicles, and passenger cars
Approval Status: Awaiting approval from New Delhi
Regulations: Subject to Indian government regulations on Chinese investments since 2020
This venture aims to boost India’s automotive industry and export capabilities, with a strong emphasis on electric and commercial vehicles.
Originally published on LinkedIn on 2024-08-09 20:16:34: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A2474261-7227769754013298688
