Mahindra & Mahindra (M&M) Acquired Stake of Navistar International Corporation

Mahindra & Mahindra (M&M) acquired stake of Navistar International Corporation in two joint ventures Mahindra Navistar Engines Pvt Ltd (MNEPL) and Mahindra Navistar Automotives Ltd (MNAL) on 12 February 2013.

Mahindra & Mahindra (M&M) announced that it took over complete ownership to sell products of MNAL and MNEPL. Navistar however decided that it would source the components from India. M&M would forward its engineering services to Navistar, which in turn would facilitate support to it through the license agreements.

Mahindra & Mahindra (M&M) has further plans of introducing refrigerated trucks in the market.