MUMBAI – India’s auto industry reaches a new milestone as domestic auto maker Mahindra & Mahindra Ltd. joins with Renault SA of France to combine their strengths. The two recently signed a memorandum of understanding to invest an estimated Rs25 billion-Rs30 billion ($560 million-$660 million) in a greenfield plant that eventually will be capable of producing 700,000 vehicles annually. Mahindra has global aspirations and a presence in five continents, where it has made strategic ...
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