After Sealing Ssangyong Deal, M&M To Expand Business In The US

Indian auto manufacturer, Mahindra and Mahindra (M&M), intends to expand its automobile marketing in the US after completing the acquisition of a majority stake in the South Korean car company Ssangyong, according to a company official.

“We have made an agreement with Ssangyong Motor to purchase a majority share in the South Korean SUV-manufacturer to expand our business in international markets. We hope to enter the US market, after the (Ssangyong) deal is complete,” said a senior officer in the Finance and Strategic Development Department of M&M.

There are a few points which have yet to be resolved and the deal is expected to be sealed by early 2011.