• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Excelitas Qioptiq banner

BATTLESPACE Updates

   +44 (0)77689 54766
   

  • Home
  • Features
  • News Updates
  • Defence Engage
  • Company Directory
  • About
  • Subscribe
  • Contact
  • Media Pack 2023

BAE SYSTEMS JOINT VENTURE APPROVED

January 8, 2009 by

MAHINDRA & MAHINDRA AND BAE SYSTEMS JOINT VENTURE APPROVED

07 Jan 09. Following approval from the Government of India’s Foreign Investment Promotions Board, Mahindra & Mahindra and BAE Systems will set up a Joint Venture (JV) in India focused on land systems for the Indian market.

This is a key step in setting up the JV, and in accordance with current Foreign Direct Investment regulations, the equity split will be 74% with Mahindra & Mahindra and 26% BAE Systems. Mahindra & Mahindra and BAE Systems will now finalise detailed planning and structural arrangements with a view to commencing JV operations as early as Q2 2009.

Anand Mahindra, Vice Chairman and Managing Director, Mahindra & Mahindra, said: “Our JV with BAE Systems is a strategic initiative by the Mahindra Group to achieve a leadership position in the land systems defence domain. I am certain that our companies are an excellent and complementary fit and the co-operation with a leader like BAE Systems will indeed help us design and develop cutting edge products. These solutions will provide greatly enhanced capability for our
Indian land forces and open up export markets not previously within our reach.”

Ian King, Chief Executive, BAE Systems, said: “This is an exciting opportunity and is the first step in BAE Systems’ plans to grow long term businesses in India in multiple sectors across the breadth and depth of the company’s global capabilities in land, sea, air and security. The ever strengthening relationship between Mahindra & Mahindra and BAE Systems is an excellent basis on which to develop a company that is founded with the express purpose of serving the Indian armed forces and the Indian economy through the creation of high quality jobs, the development of innovative technologies and system
integration skills, and the leadership of two world class companies.”

Headquartered in Delhi, with manufacturing in Faridabad, the JV will initially employ 50-60 people. Initial work is likely to include the up-armouring of Rakshack vehicles, Axe vehicle production, and starting the process of developing a mine resistant ambush protected vehicle suitable for India.

Primary Sidebar

Advertisers

  • qioptiq.com
  • Exensor
  • TCI
  • Visit the Oxley website
  • Visit the Viasat website
  • Blighter
  • SPECTRA
  • Britbots logo
  • Faun Trackway
  • Systematic
  • CISION logo
  • ProTEK logo
  • businesswire logo
  • ProTEK logo
  • ssafa logo
  • Atkins
  • IEE
  • EXFOR logo
  • DSEi
  • sibylline logo
  • Team Thunder logo
  • Commando Spirit - Blended Scoth Whisy
  • Comtech logo
  • GoExporting logo
  • Supercat logo
  • Galvion logo
Hilux Military Raceday Novemeber 2023 Chepstow SOF Week 2023

Contact Us

BATTLESPACE Publications
Old Charlock
Abthorpe Road
Silverstone
Towcester NN12 8TW

+44 (0)77689 54766

BATTLESPACE Technologies

An international defence electronics news service providing our readers with up to date developments in the defence electronics industry.

Recent News

  • PARLIAMENTARY QUESTIONS

    May 26, 2023
    Read more
  • EXHIBITIONS AND CONFERENCES

    May 26, 2023
    Read more
  • MANAGEMENT ON THE MOVE

    May 26, 2023
    Read more

Copyright BATTLESPACE Publications © 2002–2023.

This website uses cookies to improve your experience. If you continue to use the website, we'll assume you're ok with this.   Read More  Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT