Mahindra To Buy 51% Stake In Peugeot Motorcycle
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In order to grow its two-wheeler business, Goenka said that Peugeot is a “good fit” to Mahindra Two Wheelers. "It is a strong brand, which can sit above Mahindra Scooters. The four areas M&M-Peugeot will work on are building the brand - expedite global expansion, investing in product portfolio and bring together synergies in sourcing and selling," he said.
"We can work together in helping them grow in emerging markets like India, and Africa. We are infusing money so they will have enough headroom to develop new products. They have a very strong technology centre with over 20% of its workforce dedicated for R&D with good styling team, which can have a strong rub-off effect on M&M," he added.
Peugeot is the fifth largest two-wheeler maker in Europe with a market share of 9% and annual volume of 79,000 units.
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