M&M eyes global alliances

Indias Mahindra & Mahindra (M&M) said it is looking for global alliances and acquisitions to enhance its two-wheeler business. “We are open to all possible alliances, which could be technological partnership or acquisition, to strengthen our two-wheeler business,” M&M President (Automotive) Pawan Goenka said. He said the company is looking into China and Southeast Asia for low-end bikes, and into Europe for high-end bikes. The alliances and acquisition strategy was part of its plan to get a head start in the two-wheeler business, he said. “Kinetic gave us a good starting point and we are looking to enhance it further,” he said. He also said the company was in discussions with Taiwan-based Sanyang Motors, which is an investor in Kinetic Motors, for technical collaboration. He said the company’s foray into the two-wheeler segment was part of its strategy to expand its range in personal transportation. The company already has presence in utility vehicles, three-wheelers, farm equipment and drugs segment. (September 4, 2008)