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Mahindra in talks to set up assembly line in Russia
Automaker Mahindra & Mahindra is in talks with South Korea's Ssangyong Motor Co distributor in Russia to set up an assembly line, the Indian company's head said on Tuesday.
Automaker Mahindra & Mahindrais in talks with South Korea's Ssangyong Motor Co distributor in Russia to set up an assembly line, the Indian company's head said on Tuesday.
The company may take two years to begin the assembly line in Russia, Pawan Goenka, president of Mahindra's automotive and farm equipment sectors, told reporters.
Mahindra & Mahindra is the biggest shareholder of Ssangyong, which makes sport utility vehicles.
Goenka also said the Indian company is considering raising the capacity for its XUV 500 model to 5,000 per month from 3,000 per month.
Mahindra reported a bigger-than-expected 9.9 percent fall in profit during the quarter to end-December, as rising commodity costs squeezed margins, and a prolonged slowdown in tractor sales continued to dampen sales growth.
