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Mahindra & Mahindra Ltd (M&M) on Wednesday announced the launch of the Maxximo Mini Van, its next generation passenger carrier, in Mumbai.
The mini-van has been developed on the Maxximo platform and is priced at Rs 3.2 lakh (ex-showroom BS3, Navi Mumbai).
The Maxximo Mini Van will compete with the Tata Magic and the Maruti Omni in the mini van segments. The product is targeted at semi-urban and rural areas and will be available though 230 dealers and 600 outlets across the country, said Dr Pawan Goenka, President, Automotive and Farm Equipment Sectors, M&M.
The company has spent Rs 130 crore to develop the Maxximo platform and Rs 70 crore will go into the setting up of manufacturing line. The production capacity at Chakan unit is 2,000 vehicles a month which can be ramped up, Dr Goenka added.
The Maxximo Mini Van has a wide body for more space. It has a monocoque chassis with independent front suspension for better comfort.
Vehicle of choice
“Last year, the market size of the mini van segment in India was over 1.4 lakh vehicles, which are increasingly emerging as the choice of both the entry-level contract carrier and the stage carriage segment. It will be the ideal vehicle for tour and travel operators, schools and other institutions,” said M&M's Automotive Division, Chief Executive, Mr Rajesh Jejurikar.
The company is also exploring the possibilities of exporting the new vehicle in South Asian and African markets, he added.
Commenting on future growth plans, Dr Goenka said that the M&M has drawn up Rs 4,500-5,000 crore capital expenditure plan for three years for the auto and tractors segment. It has already launched five variants this year, and hopes to launch another five in current fiscal.
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