M&M acquires Kinetic 2 wheeler Co
Mahindra and Mahindra, manufacturers of utility vehicles and tractors, had acquired Pune-based two wheeler producer Kinetic Motor Co Ltd (KMCL).
M & M said it would own 80% of a firm that would buy the assets of Kinetic Motor for Rs 110 crore while Kinetic would hold the rest.
Mahindra has a joint venture with Renault of France for the Logan sedan and plans to build medium and heavy commercial vehicles in a venture with a unit of Navistar.
The Kinetic Co, which had partnered Japanese Honda, has been making losses with only 0.04% share of the total two wheeler sales in the country.