Mahindra & Mahindra eyes global acquisition

Mahindra & Mahindra on Wednesday said it is looking for global alliances and acquisitions to enhance its two-wheeler business.

"We are open to all possible alliances, which could be technological partnership or acquisition, to strengthen our two-wheeler business," M&M President (Automotive) Pawan Goenka said.

Goenka said, the company is looking in China and South East Asia for low-end bikes, while in Europe for high-end bikes.

The alliances and acquisition strategy was part of its plan to get a head start in the two-wheeler business, Goenka said.

“Kinetic gave us a good starting point and we are looking to enhance it further," he said.

He also said that the company was in discussions with Taiwan-based Sanyang Motors, which is an investor in Kinetic Motors, for technical collaboration.

Goenka said the company's foray into the two-wheeler segment was part of its strategy to expand its range in personal transportation. The company already has presence in utility vehicles, three-wheeler, farm equipment and drugs segment.