Mahindra & Mahindra looking forward to enter US
Mahindra & Mahindra has declared that it will enter the US market by December this year, at the same time it will maintain its original schedule as well. This decision was taken in spite of the fact that they are facing a lawsuit filed by its exclusive American distributor.
The company, however confirmed that the fate of the product’s launch will be decided depending upon the result of the ongoing litigation.
M&M’s U. S. distributor, Global Vehicles, who filed the lawsuit against M & M last month for delaying in the pick-up truck’s launch, claimed to have made a total investment of $ 103.5 million (approximately Rs 480 crore) for the vehicle’s launch.
Mahindra had then filed a dismiss suit motion to counter their lawsuit, saying that Global Vehicles had no merit to make such claims.
Since the end of 2009, M & M has failed to meet two deadlines owing to regulatory issues. It has now set the end of 2010 as the next possible deadline for the vehicle’s launch in the US.