Mahindra & Mahindra is in talks with Japanese major Mitsubishi for a global strategic alliance to source farm equipment products including tractors as it looks to expand presence in major markets across the globe.
India's largest tractor producer plans to form joint product development teams with Mitsubishi seeking to transform the sourcing arrangements for the US and Indian markets into a global strategic alliance. Under the planned alliance M & M will source farm equipment products from Mitsubishi and sell them under its brand name in growing international markets.
Mr Pravin Shah chief executive international operations automotive and farm equipment sectors Mahindra & Mahindra said "We are trying to cement a global relationship, identifying the right markets and products. We are looking at different possibilities and joint product development teams are being identified."
Mr Shah said that "In Europe we are only there in Turkey. There is enough bandwidth for expansion."
He added that "In 2007 we truncated TYM agreement and limited it to specific products. In the last four years more focus has been give to alliance with Mitsubishi."