Newswire

India's Mahindra to expand China tractor unit

MUMBAI, Dec 21 (Reuters) - India's Mahindra & Mahindra said on Monday its tractor-making venture with China's Yueda Group was investing $18 million to set up a research and development centre and a plant for making engines.

The Indian utility vehicles and tractor maker had bought a majority stake in Yancheg Tractors last year, with a commitment to invest about $40 million. (Reporting by Janaki Krishnan; Editing by John Mair)