Mahindra & Mahindra has entered into a joint venture with Navistar International Corp to produce diesel engines for medium and heavy commercial trucks and buses in India. The joint venture will be named Mahindra International Engines Ltd. M&M will hold 51 per cent in the company and 49 per cent by Warrenville, North America. The combined investment will be $90 million for the next five years. Production of the new company is expected to start in 2009. The two companies already make light, medium and heavy commercial vehicles for India and export markets from a JV established in 2005, and these will be powered by the advanced diesel engines produced by the new venture.