Tractor major Mahindra & Mahindra has sold its entire stake in its Chinese tractor joint venture to partner Yueda Yancheng. The company sold its 51% stake for RMB 82 million [~USD 12.3 million] or around Rs 80 crore. The Chinese JV — Mahindra Yueda Yancheng Tractor Company — was set up six year ago and M&M invested in the entity through wholly-owned subsidiary Mahindra Overseas Investment Company (Mauritius) Limited…Full Article: The Times of India Aug 2017
- Once the sale is completed, India’s automaker Mahindra & Mahindra Limited (BOM:500520) stated it would operate in the Chinese market independently and hopes to expand into rice transplanters, harvesters, and other farming machinery.
- The Indian-Chinese joint venture, Mahindra Yueda Yancheng Tractor Company (MYYTCL), was established in Yancheng, Jiangsu Province. MYYTCL produced tractors with 16 HP to 125 HP (horse power).
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