Mahindra the Utility vehicle market leader in India announced the acquisition of remaining 49% stake from Renault in its JV “Mahindra Renault Pvt Ltd.,” that had started in 2005.
In March M&M had pulled some of its management from JV (
link) indicating the relationship reaching an end. Renault is making its own plans to launch the cars in India by 2011 having its plant ready in Chennai. Renault also is planning its own dealership network.
The relationship with Renault ended in 5 years that saw the failure of Logan car in an otherwise very upbeat Indian market. Logan is the only brand that saw declined sales for 200910 from over 16 OEMs.
Mahindra will keep the Renault logo on the car till the end of 2010 and reposition with a new logo from then on. THE technology from Renault would be bought as license basis.
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