Mahindra buys Italian design firm
Indian auto manufacturer Mahindra & Mahindra Ltd, has acquired Italian auto design and engineering firm GRD. The move indicates Mahindra’s desire to go global with their future products.
Financial details of the deal with Turin-based G.R. Grafica Ricerca Design (GRD) were not revealed.
"This acquisition will help us strengthen our existing design capabilities, help us emerge as a global auto design powerhouse [and] provide a solid European footprint," said Pawan Goenka, president of Mahindra’s automotive unit.
The company will be renamed Mahindra Graphic Research and Design after all the formalities are complete.
Mahindra manufacturs Utility vehicles and tractors. They are one of the key players in the Indian automobile industry and have partnered with Renault for manufacturing the Logan. Mahindra’s Scorpio SUV is sold in the U.S by Global Vehicles USA, and is also planning to launch the hybrid version of the SUV sometime later this year.
Source: auto news