Mahindra to acquire stake in ICML

Mahindra & Mahindra, India's largest SUV manufacturer is planning to acquire a significant stake in ICML (International Car and Motor Ltd) Group in coming months. The M&M group has been in talks with ICML since last one year but no agreement has been signed between these companies till now. ICML is one of the fastest growing automobile company in India and its SUV Rhino Rx is becoming quite popular among SUV lovers, but the company doesn't has a significant market presence in the country. As M&M group has a large distribution network in India it can provide a large customer base to ICML products.

Published On Mar 12, 2010 11:01 IST

Published OnMar 12, 2010 11:01 IST

Last Updated OnMar 12, 2010 11:01 IST

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Mahindra & Mahindra, India's largest SUV manufacturer is planning to acquire a significant stake in ICML (International Car and Motor Ltd) Group in coming months. The M&M group has been in talks with ICML since last one year but no agreement has been signed between these companies till now. ICML is one of the fastest growing automobile company in India and its SUV Rhino Rx is becoming quite popular among SUV lovers, but the company doesn't has a significant market presence in the country. As M&M group has a large distribution network in India it can provide a large customer base to ICML products.

ICML Rhino Rx is available in three Diesel variants including Rhino Rx DLX, Rhino Rx S1 and Rhino Rx S2. The model is available in price range of Rs 6,25,957 - Rs 7,19,000 (Delhi ex-showroom price). M&M group currently sells one of the most Popular SUV's in India including Mahindra Bolero, Mahindra Scorpio and Mahindra Xylo. Though there is no confirmation from the Mahindra's side about this acquisition but it is expected that Mahindra group will acquire a significant stake in ICML group in coming months.

Read More on : ICML Rhino Rx price in India

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<p>Vidyadhar takes charge of the quality and consistency of the content produced by CarDekho correspondents. With over 5 years of involvement in content & social media marketing, he believes that the www is an ever evolving phenomenon. Considering the ways the web algorithms are evolving, foreseeing the threats and opportunities and managing online business accordingly is going to play a crucial role. He comes from a highly valued content development background, where, during the first phase of his corporate career, he served Westpac, an Australian bank. Later, he came into the context of technical writing where he managed teams that dealt in producing maintenance guides meant for software applications. This part of his career bestowed upon him an outlying vision to see things from end-user perspective. He bagged a masters degree in English and is pursuing MBA in Digital Marketing at the moment. </p>Read more

Mahindra to acquire stake in ICML

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