Mahindra & Mahindra, the leading auto maker in the Indian auto market, has dissolved its previously acquired 70 percent stake in the Italian firm Engines Engineering. The stake was sold to promoter Alberto Strazzari. The firm Engines Engineering had unveiled its purposely built four-stroke, 250cc MGP30 for the Moto3 class racing in November 2011.
The firm caters to a number of clients including the biggies like Ducati, Honda and Yamaha. The partnership lasted for about three and a half year, and the reasons of this separation are still unclear.
Meanwhile, M&M has put an end to the speculations of company’s plans of buying Italian bike manufacturer Ducati. While denying any future plans to purchase the firm Ducati, a Mahindra & Mahindra spokesman said, “Ducati is now a perfect company, but for further growth it requires the support of a world-class industrial partner and this year, we will work towards that partner.”
