Mahindra to invest Rs.700 cr to boost truck manufacturing
Mahindra Truck and Bus Division, a part of $16.9-billion Mahindra Group that manufactures all variants of trucks, on Wednesday said that it will invest Rs.700 crore to bolster its commercial vehicle segment. Emphasising on the company’s visions, Rajan Wadhera, President and Chief Executive - Truck & Power Train - M&M Ltd, said, “The CV (commercial vehicle) industry has seen an upturn over the last few quarters which is a good sign. At Mahindra we have been steadily growing and are fully committed to our commercial vehicles business and taking aggressive steps to become a complete CV range player. “With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory,” he added. The company has already rolled out a fleet of 1.25 lakh Light Commercial Vehicles (LCVs) on Indian roads and grabbed 8.9 % share of the domestic heavy vehicle market. Currently, all LCVs and buses are manufactured in the M&M facility at Zaheerabad, Telangana. Mahindra’s Heavy Commercial vehicle (HCV) segment is set to get a further boost as the company plans to introduce vehicles of different variants ranging from 3.5 tonne Gross vehicle Weight (GVW) to 49 tonne GVW. The company announced its fresh investment plans as it rolled out its 15,000th heavy commercial vehicle (HCV) from its Chakan manufacturing plant in Maharashtra. Mahindra’s state-of-the-art Chakan plant, spread over 700 acres, has been built with a total investment of Rs.4,000 crore and is currently producing medium and heavy commercial vehicles. Mahindra’s truck and bus business segment has soared in the last few years, primarily due to its vast after sales service network. It currently boasts of 6,635 dealerships, 90 authorised service centres, 2,516 roadside service points, and 1,322 retail spare outlets across the country. After entering into the truck segment in 2012, the company has been facing a fierce competition from India’s top two truck makers—Ashok Leyland and Tata Motors.
August 26, 2015 | 5:28pm IST.
to success.