Navistar withdraws from Indian market
Indian manufacturing giant Mahindra has completed the final phase of its Mahindra-Navistar joint venture takeover.
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Navistar withdraw from the Indian market
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Navistar has now withdrawn from the Indian market leaving Mahindra
at the helm of Mahindra Navistar Automotive and Mahindra Navistar
Engines.
The move comes as Navistar continues to restructure with a focus on
strengthening its North American business.
"Mahindra remains committed to growing its presence in the Indian
commercial vehicle industry with Mahindra's truck and engine
businesses continuing to play a critical role in helping us achieve
this goal," President of Mahindra's Automotive and Farm Equipment
sectors Dr Pawan Goenka says.
Navistar says it intends continue its relationship with Mahindra
and will also continue to source components from India. Mahindra
will also continue to provide the American truck maker with
engineering resources.
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