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The Mahindra group today said their association with National Aeronautics Laboratory (NAL) was a “development partnership” and was confined to produce five-seat aircraft only.
A company spokesperson said the components business and the other aircraft programmes were “completely outside” their relationship with NAL.
On the Mahindra Group acquiring Australian Companies GippsAero and Aerostaff, he said the total investments were of the order of Rs 175 crore spread over many years.
The deal was closed last year in June, he added.
According to the agreement, Mahindra would retain the existing managements of GippsAero and Aerostaff Australia, securing the services of the founders who had developed this technology.
Mahindra Aerospace has planned to manufacture utility aircrafts with seating capacity of five, eight, 10 and 18.
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