February 28, 2009
STATEMENT FROM MAHINDRA & MAHINDRA LTD.
This is with reference to a blog titled "Lack of communication from
Mahindra on their JV project causes concern" posted by Narendra
yesterday on PrPoint! The misinformed blog writer has chosen to
comment upon the fact that a Nissan, Renault and Mahindra tripartite
agreement for a facility in Chennai announced in 2007 might be under
threat!! And then goes on to state that the same might be a point of
worry for Logan customers as it also raises concerns over the future
of the Mahindra-Renault Joint Venture!
For the benefit of all concerned - we would like to reiterate that the
Mahindra Group had pulled out of the Chennai project way back in 2008
itself. Recently, there have been media reports in leading
publications like the Hindu Business Line, DNA Money and Financial
Chronicle on February 12, 2009, that Renault's upcoming plant in
Chennai may be put on hold. The same reports also state that M&M and
Renault may re-initiate talks to manufacture Logan derivatives like
the Sandero hatchback and Steppe station wagon at the M&M facility in
Nashik.
We would like to highlight the fact that the MRPL Pvt Ltd., the Joint
Venture (JV) between M&M Ltd and Renault SA is concrete and cohesive,
and has been functioning as per the strategies formulated and agreed
upon by both companies with regard to their product range. Therefore,
in this situation, as Renault SA has voiced in (DNA Money, Hindu
Business Line and Financial Chronicle on Feb 12, 2009) the media that
the company is indeed stepping out of the 50:50 revenue-sharing
manufacturing facility in Chennai, they may manufacture future
products on the Logan platform (more derivatives) out of M&M's Nashik
plant, where the existing Logan version is being produced. As has been
stated before, Renault SA will also be using our dealer network to
distribute its products in India.
We are currently in talks with our joint venture partner on the future
course of action and will make an official announcement once a
decision is taken. We would also like to state that Mahindra's
relationship with Renault SA will remain on course, irrespective of
any other associations Renault SA may have in India.
The Mahindra Renault Logan has been a successful product for us since
its launch in April 2007. The Logan has received several prestigious
industry accolades and awards which highlights the tremendous customer
response to this mid-sized sedan. Further, the Limited Edition-Logan
Edge launched in July 2008 was extremely well received and we plan to
soon launch a new variant of the Logan Edge solely based on customer
demand.
We would like to reiterate the fact that at M&M we are very proud of
the success of the Logan, which is a result of the co-operation
between both partners. We will continue to work towards achieving
greater heights with this award winning product.
Yours sincerely,
Roma Balwani
VP & Head - Corporate Communication
Mahindra & Mahindra Ltd.
------------
--- In prpoint@yahoogroups
>
> Sub:Corporate Communication
> During the past one month or so,there are persistent media reports about
> Nissan, Renault, Mahindra Joint venture not taking off.There was
report that
> Renault may not implement its car project in Tamil nadu.Yet the
India party
> Mahindra's have not come out with any communication regarding the
fate of
> customers of Logan cars distributed by Mahindras but produced under a JV
> with Renault.
> There are already serious misgivings about the operation of
international
> firms in India and their reliability as long term players in the Indian
> market and their care for the Indian customers.Yet Mahidnra's corporate
> communciation has not cared to note the Logan customers' concerns and
> respond.Rather strange.Our group memebrs may like to note and discuss
> this.Narendra
>
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