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Mahindra Ssangyong Deal Signed
Mahindra is likely to acquire funds for this project through debt and internal accruals. M&M had been very keen on romping this deal in a bid to expand its position in the global market. Ssangyong is doing well in the overseas market with its Rexton and Kyron SUVs being exported to Europe, Russia, china, and the Middle East.
Ssangyong has been Mahindra's choice for the right direction of extending the markets to the overseas lands. Mahindra has been establishing its fold in the SUV segment. This deal comes after the successful take over the Indian electric car maker Reva Electric of Bangalore. Mahindra is on the JV with Renault under Mahindra Renault. M&M is on the search for the Indian technicians to assist the Korean experts, since Ssangyong has curtailed the number of labours by 3800 due to the global recession. As of now, Ssangyong faced a mild rise in its share index by 0.27% to the major rise of 6%.
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