"The coming together of Mahindra and Peugeot is a
win-win for the two wheeler businesses of both companies," Mahindra &
Mahindra executive director Pawan Goenka said.
"Mahindra would offer access to the India market, mass
market product technology and competence in marketing while Peugeot brings
premium range, a strong European footprint, and a globally recognized
brand."
According to a company, the transaction between the companys
is subject to works council consultation, as part of the employee dialogue
process and anti-trust law.
Mahindra has bid for a 51 percent stake in the company for
which it would infuse 15 million euro.
Over the past few years, Mahindra has strengthened its
position in the two-wheeler segment globally.
Mahindra Racing competes at the highest level of global
motorcycle racing in the Moto3 category of MotoGP, while Mahindra GenZe recently
revealed its electric two wheelers in the US market.
Recently, the company launched its new scooter model Gusto.
The company also has sales and distribution operations in Latin America, Africa
and South Asia. | 
