Mumbai, July 26
Mahindra & Mahindra (M&M) has plans to introduce CNG bus in the local market. The move is seen in conjunction with the rise in crude oil prices, with auto companies looking at various fuel options to drive their respective vehicles.
Addressing the 60th annual general meeting of the company, Mr Keshub Mahindra, Chairman, M&M, said that CNG and other options such as electric vehicles were being considered as prospective fuel options. The company has come up with various engine and fuel modifications in their bus range. Earlier, it introduced the first CRDe bus in the country. The bus is the first introduction from the M&M-International Truck and Engine Corporation tie-up.
Besides working on the commercial vehicle segment, the company has introduced its range of CNG three-wheelers and it now holds a major market share in Delhi's CNG market.
While M&M is looking at introducing CNG option for their commercial vehicle and three-wheeler segment, various auto companies such as Hindustan Motors, General Motors India have recently launched their CNG models for Lancer and the Optra respectively. These companies have now offered warranty on the CNG kit, which was not available before. The company's shares closed on Wednesday at Rs 563.10 on the BSE, up by 6.63 per cent from the previous close.