Mahindra eyes US car market with Korean subsidiary
Indian automobile giant Mahindra & Mahindra is eyeing the American car market with its South Korean subsidiary exploring possibilities in the sports utility vehicle (SUV) segment. This week, the company opened a $230-million plant in Detroit, the world's car capital, which got its first automotive production facility in 25 years. The entry into the US car market is likely to be through the South Korean SsangYong Motor Company, which is a subsidiary of Mahindra & Mahindra, indicated its group Chairman Anand Mahindra. He, however, told reporters in Detroit that no date of entering the US car market has been determined yet. The board of SsangYong, which was acquired by Mahindra in 2011, is deliberating the issue and would announce when a decision is made.