Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic.
Mahindra also pulled out of a proposed joint venture with Ford Motor Co. in India as the capital requirements didn’t make sense at a time when the pandemic has decimated consumer demand.
The automaker will focus on building a strong SUV portfolio based on electric vehicles and won’t try to build an international presence in short term.