M038;M-ITEC joint venture

8216;8216;The company aims to be in every segment of the commercial vehicle market from 6 tonne GVW to 35 tonne GVW with variants of passenger transport, cargo and specialised load applications,8217;8217; it said.

The medium and heavy vehicle product range will be engineered to meet Indian requirements. The joint venture8217;s product range and technology will also be focused on serving various export markets in Asia, Middle East, Africa, Russia and Central Europe as well as providing International with appropriate low-cost products and aggregate technologies for the Americas. The company will use its distribution network in India and has already appointed 140 dealers for the purpose. Mahindra International has commenced manufacturing light commercial vehicles under a contract manufacturing arrangement with M038;M at the Zaheerabad plant. A similar contract manufacturing arrangement is proposed for the medium and heavy vehicle production.