| 12:50 PM EST

Mahindra to Spend $2.5 Billion on Capacity, Products

India’s Mahindra & Mahindra Ltd. says it will hike spending 20% to 180 billion rupees ($2.5 billion) through 2022 to expand production, develop new models and create “greener” powertrains.
#asia #Ford #Mahindra

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

India’s Mahindra & Mahindra Ltd. says it will hike spending 20% to 180 billion rupees ($2.5 billion) through 2022 to expand production, develop new models and create “greener” powertrains.

The SUV specialist will invest roughly 60 billion rupees ($859 million) on product development, including electrified powertrains and piston engines to meet India’s tougher BS-VI emission standards that take effect next April.

Mahindra also will spend 50 billion rupees ($720 million) to add a new press line, paint shop and chassis trim line at its giant plant in Chakan. The project will hike the factory’s annual capacity to 750,000 cars, minivans, SUV/crossover vehicles and commercial trucks.

The Chakan facility is being readied for the 2020 launch of a new midsize SUV to replace its XUV500. A variant for Ford Motor Co. will debut in 2021. The plant also will add the all-new Scorpio SUV and its Thar off-road variant in 2020.

Mahindra’s car and truck sales in January-March grew 5% to 163,900 vehicles, including a 7% increase to 77,600 passenger vehicles.

Related Topics

RELATED CONTENT

  • 2019 Lexus ES 350 Introduced

    The Lexus ES sedan is more than just an offering within the company’s lineup.

  • The Changing Definition of 'Niche Vehicles'

    Once the playground of exotic car makers, the definition of a niche vehicle has expanded to include image vehicles for mainstream OEMs, and specialist models produced on high-volume platforms.

  • 2016 Prius: The Fourth Generation

    The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).