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Auto major Mahindra and Mahindra (M&M) will invest ₹700 crore to ramp up its commercial vehicle business. The focus is on developing intermediate and light commercial vehicles to become a full range player over the next two years.
The Mahindra Truck and Bus Division (MTBD), part of the Mahindra Group, will focus on developing vehicles in the nine to 16 tonnes range.
That will ensure Mahindra has vehicles from six to 49 tonnes in their product portfolio.
Product developmentAs part of the product development project which began last year, the company plans to introduce intermediate commercial vehicles (ICVs), medium commercial vehicles (MCVs), upgrade light commercial vehicles (LCVs) and consolidate its heavy commercial vehicles (HCV) segment.
“We are taking aggressive steps to become a full range player. The ICV segment is growing rapidly and we are focusing on this category. With a portfolio ranging from 3.5 tonnes to 49 tonnes, Mahindra Truck and Bus Division is set to become a full range CV player within the next two years,” said Rajan Wadhera, president & chief executive - truck & power train, and head - Mahindra Research Valley, Mahindra & Mahindra. MTBD announced the roll out of its 15,000th HCV from the Chakan facility. In addition, the company also reached a sales milestone of 1.25 lakh LCVs on Indian roads
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