M&M's 'Ingenio' to hit the roads in March '08

After Logan, the auto major Mahindra & Mahindra (M&M) has geared up to roll out its multi-purpose vehicle (MPV) 'Ingenio'. The company has reportedly decided to launch its new MPV Ingenio in March 2008. The company is investing around Rs 550 crore in the project.

M&M has built a bodyshop for MPV Ingenio adjacent its Nashik facility, which is near completion. The Ingenio will share a stamping division and paint shop of M&M's Scorpio plant. Initially, the capacity of the plant will be 50,000 units per annum, sources said.

The company is planning the trial production by December-end this year. The Ingenio plant is expected to start commercial operations during March next year.

The Ingenio will be launched either on March 13, March 22 or April 4 next year. The multi-purpose vehicle, Ingenio, will have both petrol and diesel versions, sources close to the development told Business Standard.

Earlier, the company had planned the Ingenio project to replace its utility vehicle 'Bolero'. But, the response to Bolero from consumers in the market has forced the company to continue with the Bolero too. The company had planned to shift the project to another facility, but withdrew its decision considering the time cosumed in building a new plant and with the aim to fulfill the present Bolero orders in the market, sources said.

In August 2006, M&M had signed an MoU with the Government of Maharashtra to set up a manufacturing facility for its new multipurpose vehicle (MPV) platform unit, Ingenio, at Nashik.

Accordingly, the company has been granted a waiver from stamp duty, power purchase duty, exemption from octroi and other local taxes. M&M has also signed contracts with some vendors for the Ingenio project, to outsource components.

The company has awarded seats and interior contract to Lear Corporation, a major automotive interior suppliers. The company will outsource sheet metal from JBM Auto and Mahindra Group company Mahindra Ugine Steel Company Ltd (Musco).

M&M's facility is located in Satpur area of the Maharashtra Industrial Development Corporation's (MIDC) Nashik plant. The Nashik facility manufactures the 'Scorpio' and Bolero utility vehicles.

Mahindra-Renault's Logan car manufacturing plant is also operational adjacent the Scorpio facility here. Now, the Ingenio plant is being set up adjacent Mahindra's Nashik facility.