dear friends
Last week we had circulated a message from a senior member on this subject. We have now received a clarification from Adfactors PR. the PR Agency of Mahindra group.
Srinivasan
Moderator
---------- Forwarded message ----------
From: Adfactors Pr <adfactorspr.mahindra@yahoo.com >
Date: Mon, Mar 2, 2009 at 11:49 AM
Subject: Statement from Mahindra & Mahindra on the "Lack of communication from Mahindra on their JV project causes concern
To: prpoint-owner@yahoogroups.com
From: Adfactors Pr <adfactorspr.
Date: Mon, Mar 2, 2009 at 11:49 AM
Subject: Statement from Mahindra & Mahindra on the "Lack of communication from Mahindra on their JV project causes concern
To: prpoint-owner@
| 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. |
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