Mahindra to spend Rs 7,500 crore to expand capacity

Mahindra has announced that it will invest Rs 7,500 crore in capacity expansion across its verticals. This money will be spent on the automotive and the tractor business over a period of three years.

The company has set a capex of Rs 2,500 crore a year that will cover the firm's automotive and farm equipment businesses including SUVs, two wheelers, commercial vehicles and tractors. This investment will also cover new product platforms along with facelifts that has been planned for future. 

"We have had some product gaps but new product launches have started and these new products will pull us out. The Rs 7500 crore capex will include two new compact SUV platforms as well as new intermediate commercial vehicles (ICV) and medium commercial vehicles (MCV) platforms," said Pawan Goenka, group president, auto & farm sector, Mahindra.