Mahindra starts assembling vehicles in Kenya [Reuters]
PEUGEOT SA (PUGOY)
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Source: Reuters
Mahindra starts assembling vehicles in Kenya NAIROBI (Reuters) - Indian automaker Mahindra & Mahindra ( MAHM.NS ) has started assembling two of its small commercial trucks in Kenya, it said on Monday, becoming the latest global carmaker to start operations in East Africa’s richest economy. Mahindra’s entry follows that of French carmaker Peugeot SA ( PEUP.PA ) and Germany’s Volkswagen AG ( VOWG_p.DE ), both of which announced resumption of local assembly in 2017 and 2016 respectively, after decades-long absences. The interest in the local new vehicle market by international firms, which also include Swedish truck maker Volvo AB ( VOLVb.ST ), comes in the wake of government efforts to attract investment in the sector to create jobs, by offering a range of incentives such as tax breaks. Nairobi is also planning to limit the age of second hand vehicles that can be imported into the market as part of the drive to encourage investment in local assembly of new vehicles. Used car imp
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