New Mahindra car plant in Tamil Nadu by 2015 to produce S101
Mahindra will setup a new plant in Tamil Nadu to manufacture its new range of vehicles next year. This will be Mahindra’s ninth plant in India, which will start operations in 2015-16 with investment of about Rs. 4000 crore, spanned over 7 to 8 years. This is just part of a major capacity expansion plan and product development strategy for a total worth of about Rs. 10,000 crore in next three years.
Coming back to the new plant for India, Pawan Goenka, Executive Director & President, Mahindra Automotive, Farm equipment & Two-wheeler said they are required to put official announcement of investments on hold owing to ongoing general election, as it may violate model code of conduct of the election commission. Hence, we shall expect official information about this project by June 2014.
Mahindra is reportedly exercising an MoU with Tamil Nadu government for its new plant, location of which is speculated be a 400 acre plot at Cheyyar, Tiruvannamalai District. The site would be 74 km away from Mahindra Research Valley, the Rs.600 crore R&D facility near Chennai where a number of Mahindra’s products are conceptualised by a workforce of about 2,500 people.
New products that are expected to roll out of said new plant include a compact crossover (S101), a mid-size SUV (U301), a global MUV (W202) and a new LCV (P601) that will replace Maxximo.
Source Financial Express
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