Mexican Media Brands
Mahindra Plans Test Track and Factory Complex
Mahindra & Mahindra Ltd. intends to spend 40 billion rupees ($644 million) over seven years to build a test track and auto assembly plant in Tamil Nadu, India, the Economic Times reports.
#economics
Share
Mahindra & Mahindra Ltd. intends to spend 40 billion rupees ($644 million) over seven years to build a test track and auto assembly plant in Tamil Nadu, India, the Economic Times reports.
The complex is to be built on a 255-acre site in Cheyyar, pending allocation of the land, according to Pawan Goenka, who heads the company's automotive unit. He tells reporters the company expects to sign a memorandum of understanding in May.
Goenka says work on the test track will begin immediately after the land is assigned to the company. The timing of the factory's construction "depends on how the auto industry grows," he adds. When completed, the facility will be Mahindra's largest assembly plant in India.
The factory will be used to make an array of unspecified future products for sale in India and elsewhere, according to Goenka.
RELATED CONTENT
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
