Mahindra & Mahindra (M&M) has put its plans to acquire a design firm based in Detroit, US, on the backburner.
M&M planned to acquire and use the $5 million automotive design company as its front office in the US.
The company, however, decided against going ahead with the deal as valuations in the US have of late been affected by a state of over-capacity in the design industry.
Meanwhile, senior company executives said M&M would continue to look at acquisitions, and may include other targets in the US and Europe.
