Mahindra & Mahindra to invest Rs 5,000 crore in next three years

Mahindra & Mahindra Ltd. plans to beef up its facilities and product line-up in the near future. In this regard, the company intends to invest Rs 5,000 crore in the next three years.

The manufacturer announced to PTI its plans and strategy to develop the existing facilities and bring up new products. The manufacturer will begin its work to evolve eight to 10 new variants apart from upgrades to the current products and manufacturing facilities. The enhancements to the present plants will help increase the production capacity.

Mahindra has manufacturing facilities in Igatpuri, Nashik, Chakan and Kandivali in Maharashtra. It has also plants in Andhra Pradesh and Uttarakhand respectively. The company is looking out for new regions in the country to come up with more manufacturing facilities.

The new products that the automaker will come up with include cars, bikes and commercial vehicles. The most awaited product from Mahindra is the facelifted Scorpio that has been seen testing in India several times. The upcoming Scorpio is expected to be unveiled in the second half this year. Another compact SUV codenamed the S101 is being developed to go up against the Ford EcoSport and similar vehicles.

Pravin Shah, Chief Executive, Mahindra & Mahindra Ltd., said, "Adding new products is a continuous process. We have grown consistently over the last few years. We plan to invest Rs 5,000 crore over the next three years to continue this momentum."

We are introducing new vehicles, new models and so, expansion of capacity has to happen. We are in conversation with the Maharashtra government and if we get the things (incentives) we are looking for, then we will expand the capacity there itself," he further added.