In January 2006, Sanyang signed an agreement with the Kinetic Motor Company of India for a purchase of 2,065,000 equity shares and technical collaboration, which will amount to Sanyang holding an 11.1% (approx.) stake of the enhanced capital of Kinetic Motor Company Limited. With Sanyang taking a minority stake, the management control will be retained with the Kinetic Group. In 2008, the two-wheeler division of The Kinetic Group was taken over by Mahindra, a leading manufacturer of utility vehicles in India.[citation needed]