Mahindra said to seek nod for $3 billion Shaanxi JV

Indian automaker Mahindra & Mahindra and China's Shaanxi Automobile Group have agreed to establish a $3 billion joint venture to build a car manufacturing plant in India. The plant is set up in Gujarat, India, and includes an export-oriented, integrated manufacture hub for assembled cars, engines, and car batteries. The Indian government has required approval for any Chinese investment since 2020, following deadly clashes between the two neighbours.