 "Mahindra Group to invest Rs 700 cr to develop new commercial vehicles")
As part of its growth plans for commercial vehicle business, Mahindra Truck and Bus Division (MTBD), a part of the Mahindra Group, will invest Rs 700 crore to develop new intermediate commercial vehicles (ICV) and light commercial vehicles (LCVs). With a portfolio ranging from 3.5 T to 49 T, Mahindra Truck and Bus Division is set to become a full range CV player within the next 2 years.
Rajan Wadhera, president and chief executive - truck & power train, and head - Mahindra Research Valley, Mahindra & Mahindra Ltd, said, "The CV industry has seen an upturn over the last few quarters which is a good sign. At Mahindra, we have been steadily growing and are fully committed to our commercial vehicles business, and taking aggressive steps to become a complete CV range player. With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory."
Today, MTBD also announced the roll out of its 16,000th heavy commercial vehicle (HCV) from Chakan plant in Pune.
Rajan Wadhera, president and chief executive - truck & power train, and head - Mahindra Research Valley, Mahindra & Mahindra Ltd, said, "The CV industry has seen an upturn over the last few quarters which is a good sign. At Mahindra, we have been steadily growing and are fully committed to our commercial vehicles business, and taking aggressive steps to become a complete CV range player. With planned investments and enhancement of our product portfolio, we look forward to ride the growth trajectory."
Today, MTBD also announced the roll out of its 16,000th heavy commercial vehicle (HCV) from Chakan plant in Pune.