Mahindra & Mahindra (M&M) along with
its Australian distribution partner TMI Pacific is planning to form an
Australian subsidiary. They have entered into an agreement to form the new JV -
Mahindra Automotive Australia - which will continue the marketing,
promotion and retail of Mahindra vehicles in Australia.
M&M will hold an 80 per cent stake in
the JV, while TMI Pacific will retain the rest.
Also See:
M&M forms JV with
Chinese firm (18-Aug-08)