Mahindra Truck and Bus Division (MTBD), a part of $16.9 billion Mahindra Group, plans to be a full range commercial vehicle player with focus on developing vehicles in the 9-16 tonnes range.
Sales of total commercial vehicles in July rose 8.41 percent to 51,795 units in July, SIAM said.
The sub-4 metre SUV will be in showrooms by September 2015
The TUV300 is expected to compete with the likes of Toyota Etios Cross, Hyundai 120 Active and Fiat Avventura which are priced at a range of Rs 6.23 lakh and Rs 8.89 lakh (ex-showroom Delhi).
A third source close to the matter said Mahindra may push back further a possible deal in order to agree on a lower price.
There are eight variants to choose from, depending on payload, engine and deck lengths
Mahindra also announced that it has introduced green initiatives in the new plant
To attract foreign direct investment and boost defence manufacturing in the country, which imports up to 70 percent of its military hardware, the government has raised the FDI cap to 49 percent.
Homegrown auto major M&M plans to launch its electric car in Europe in next six months as it looks to tap rising demand for eco-friendly vehicles in the continent.
The placement season at business schools is witnessing a significant uptrend this year with rush of offers from domestic as well as international MNCs and average salaries rising by over 20 percent.
Indian conglomerate Mahindra Group plans to expand its renewable energy business and invest Rs 4500 cr ($732.5 million) over the next three to four years, its chairman said, amid a government-led push to increase the use of clean energy.
The first electric vehicle pilot project under the aegis of National Electric Mobility Mission Plan (NEMMP) is a step towards government's long-term vision of NEMMP 2020.
The preventive inspection and replacement, if needed, of the vacuum pump would be free of cost for customers, who would be individually contacted by the company, Mahindra & Mahindra said in a statement.
There are no ifs and buts. The government can't escape the 'big bang' reforms for long.
Tata Motors fell as much as 1.69 percent to touch an intra-day low of Rs 526.55. At the end of today's trading session the stock was quoted at Rs 531.15 (down 0.84 percent).
Analysts believe this deal works well for Peugeot but it isn't clear just to what extent Mahindra and Mahindra will benefit from it.
The deal will involve infusion of 15 million euros ($18.93 million) into Peugeot Motorcycles to finance projects.
Homegrown auto major Mahindra & Mahindra has tied up with Snapdeal for online pre-bookings of the company's upcoming new version of SUV Scorpio.
As many as 323 stocks touched 52-week high in an overall robust stock market where the Sensex hit fresh life-time high of 27,082.85
The Competition Commission of India (CCI) on Monday penalised the auto makers for unfair business ways in the spare parts and after services market. <br />