Just short of four years since its entry in the two-wheeler space, Mr Anand Mahindra has said that group company Mahindra 2 Wheelers has set a target of Rs 20,000 crore by 2020.
The Vice-Chairman and Managing Director of M&M was speaking at the launch of a new R&D Centre for two-wheelers in Pune that has been set up with an investment of Rs 100 crore. It is home to 175 engineers and designers. This is not a standalone centre, but a node in Mahindra’s neural network he said, adding that around Rs 500 crore will be invested here over the next five years.
New engines
On the occasion, Mahindra 2 Wheelers unveiled two new engines – one 100cc and 300cc - developed in-house as well as the Duro DZ fitted with a fuel-efficient micro hybrid technology engine that is due to be launched in the next two months.
The new engines are being made at the company’s facility in Pithampur where a new assembly line has been installed with an investment of Rs 25 crore.
“The two-wheeler segment in India offers sizeable opportunity, and if you succeed there is substantial scale to be obtained. We are targeting Rs 20,000 crore by 2020,” Mr Mahindra said.
He added that the Mahindra group was positioning itself to be a player of significance in every sector of mobility.
Launches this fiscal
Outlining the product launches on the cards, Mr Anoop Mathur, President, Mahindra 2 Wheelers, said that three new motorcycles will be launched during this fiscal.
This includes the revamped Stalio, due ahead of the forthcoming festival season, and the Mojo in the fourth quarter next year.