GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju Mayor Yoon Jang-hyun met Mahindra Group Chairman Anand Mahindra to present the city's plan to foster the eco-friendly car business and seek ways for cooperation.

The Indian multinational automobile manufacturer reportedly said during the meeting that Gwangju will be considered to be a prime candidate when they set up a production facility for electric vehicles (EVs) in Korea.

According to Gwangju City, Mayor Yoon visited Mahindra Group headquartered in Mumbai, India for four days from November 2, 2016 and met the group's management, including Chairman Anand Mahindra, Managing Director Pawan Kumar Goenka, and IT Sector President Ulhas Yargop.

The Gwangju Mayor paid a visit to Mahindra Group's plant in Kandivali, a suburb in the northern part of Mumbai, and was briefed on the group's investment and development plan for automobile business by Managing Director Goenka. During the meeting, the managing director expressed his will to favorably consider Gwangju for production base.

Chairman Mahindra said the group's business philosophy is in line with the Gwangju spirit of shared growth and the group also has a great interest in the EV market, particularly on-demand ride services using EVs.

Mayor Yoon emphasized that Gwangju is nurturing renewable energy and environment-friendly car industries as future growth engines, expressing his hope for future cooperation with the business group.

Korean Consul general and office of the Korea Trade-Investment Promotion Agency in India also pledged support for cooperation between Gwangju and Mahindra Group.

Established in 1945, Mahindra Group currently operates 10 businesses units including automotive, aerospace, defense, leisure, finance, and ICT.

The multinational business group generates annual sales of USD 17.8 billion and employs around 20,000 worldwide. The Indian auto giant is well known in Korea as it took over Ssangyong Motor in 2011.

betty@yna.co.kr

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