NEW DELHI Mahindra & Mahindra(MAHM.NS) will invest $900 million over the next four years in products to be developed jointly with its South Korean unit Ssangyong Motor Co Ltd (003620.KS), Mahindra's automotive president said on Wednesday.
The investment is separate from Mahindra's planned spend of 50 billion rupees on its own products over three years ending in 2014, said Pawan Goenka, who is also chairman of luxury SUV manufacturer Ssangyong.
Mahindra, India's biggest utility vehicle manufacturer, also builds tractors, trucks and motorcycles, and bought a majority stake in the South Korean company in 2011 for $460 million.
(Reporting by Devidutta Tripathy; Editing by Daniel Magnowski)
Gold price correction boosts demand; Indian discounts fall to 3-month low
MUMBAI/BENGALURU Gold discounts in India fell to nearly three-month lows this week while fresh buying gathered some steam elsewhere in Asia as price corrections and festive buying lifted demand for the yellow metal.
Infosys says seeing client-specific softness after Brexit
NEW DELHI IT services provider Infosys Ltd is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday.
French naval contractor DCNS files complaint following data leak
PARIS French naval contractor DCNS has filed a complaint for breach of trust after a massive leak of documents concerning six Scorpene submarines it is building for India, a spokesman for the shipbuilder said on Friday.