Navistar collaborating with Mahindra & Mahindra

Indian automaker Mahindra & Mahindra has announced that they are now collaborating with Navistar International Corp.

The two companies are entering into a joint deal to setup an entity which would manufacture diesel engines for medium and heavy commercial trucks and buses in India.

This company has been named Mahindra International Engines Ltd. Majority stake in this unit would be owned by the Indian commercial vehicle maker.

The two companies would be together investing around USD 90 million in this firm. They expect the production at this unit to begin by 2009.

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