The Spanish-Indian partnership is in talks with two Japan-based firms over a tripartite venture that would seek acquisitions and ventures in Southeast Asia.
Mahindra CIE, the partnership formed by India-based Mahindra Group’s auto component manufacturing subsidiary Mahindra Systech and Spain-based industrial group CIE Automotive, is in talks with an auto parts provider and a trading firm, both from Japan, over establishing a tripartite venture that would invest in Southeast Asia, Mahindra CIE chairman Hemant Luthra has told LiveMint.
The joint venture is likely to be based in Thailand or Malaysia, as Mahindra CIE hopes to get a foothold in Southeast Asia through joint…
