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Mahindra Launches $1.2 Billion Expansion Program
Mahindra & Mahindra Ltd. says in a regulatory filing it plans to spend 80 billion rupees ($1.2 billion) over the next seven years to develop new products and expand capacity in India.
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Mahindra & Mahindra Ltd. says in a regulatory filing it plans to spend 80 billion rupees ($1.2 billion) over the next seven years to develop new products and expand capacity in India.
The company did not detail its plans but said the spending would include unspecified infrastructure development, according to the Mumbai-based The Economic Times.
Mahindra, which operates six auto assembly plants in India, is the country’s top SUV/crossover producers with six models. It also offers a broad range of commercial trucks and buses and 13 car, wagon and minivan models—including the e2o small electric car.
The company’s car and SUV sales shrank 2% to 221,500 units in calendar 2015 and but climbed 12% to 21,000 last month.
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