Navistar finalizes joint venture with Indian company

Truck maker Navistar International has finalized a joint venture with Mahindra & Mahindra of India to make trucks and buses for Indian export markets. The U.S. truck maker said its unit would own 49 percent of the joint venture.

The combined investment of the two companies will be more than $80 million over the next two to three years. The venture will use Mehindra & Mehindra’s distribution network to launch a range of medium to heavy commercial vehicles based on Navistar’s existing product platforms.