India's Mahindra, Kinetic may form JV-source

Newswire

MUMBAI, July 30 (Reuters) - Mahindra & Mahindra Ltd is considering entering into a joint venture with Kinetic Motor for manufacturing two-wheelers, a source close to the development said on Wednesday. Mahindra, India's top utility vehicle and tractor maker, would hold an 80 percent stake in the new firm, which would be called Mahindra Kinetic Ltd, with Kinetic holding the rest, the source said. (Reporting by Aniruddha Basu; Editing by John Mair)

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