M&M sets up JV for armoured vehicles

Mahindra & Mahindra (M&M), along with its subsidary Mahindra Overseas Investment Company Mauritius Limited (MOICML), Arabia Holdings and Ras Al- Khaimah Transport Investments LLC, have entered into a joint venture for armouring of vehicles. The joint venture is to cater to markets including West and Central Asia as well as Africa.

According to a filing on the BSE on Thursday, M&M said, “The JV would launch a number of Mahindra Defence Systems’ armoured vehicles such as the Marksman, the up armoured Scorpio, and cash in transit van, which have been successfully launched in India.”

The low cost manufacturing in the free zones of Ras Al-Khaimah in UAE and its proximity to GCC countries, African and Central Asian sub-continents was the reason M&M based its JV there.