Mahindra & Mahindra (M&M), India’s leading utility vehicle maker, has entered into a joint venture agreement with its existing partner, TMI Pacific, a local Australian importer and distributor of vehicles to market, promote and retail M&M's products there.
The agreement will lead to the formation of a new company called Mahindra Automotive Australia in which M&M will hold 80 per cent stake, while TMI Pacific will retain the rest.
