M & M Forms Joint Venture With Cat

Mahindra & Mahindra (M & M) and Caterpillar are discussing a joint venture to manufacture tractor engines. Mahindra & Mahindra is India’s largest producer of tractor and utility vehicles and would own a 51% stake in the venture.

The engines produced by the joint venture would be for Caterpillar markets in Australia, Brazil, China, Russia, South Africa and Turkey, The Economic Times (India) reports. Executives of both firms declined to comment.