In 2005 Mahindra & Mahindra had an agreement with Renault ,a French car manufacturing company to produce and commercialize Logan . It is a `51 : 49` partnership between Mahindra & Mahindra and Renault . The Loagan plant at Nasik has a capacity to produce 50, 000 units per year . the main aim of the two companies t is to produce no - frills Loagan car with classifying features at an aggressive price & launch them exclusively for Indian market . Renault wanted to increase the global car sales by 800, 000 by year 2009 & they believed that this figure could be a achieved by investing in Indian market . What kind of arrangement is between the two companies? Define it .
