Mahindra & Mahindra Ltd on Saturday expanded its global footprint with the inauguration of a local automotive assembly plant at Welipenna near Colombo in Sri Lanka.
Christened Mahindra Ideal Lanka Pvt Ltd, the assembly plant has been set up in collaboration with Ideal Motors of Sri Lanka. The plant spread across 10 acres rolled out its first product, the compact sport utility vehicle KUV100, and will roll out a slew of products over the next three years.
The knock-down kit (CKD) assembly plant was inaugurated in the presence of Sri Lankan Prime Minister Ranil Wickremesinghe, his Cabinet Minister Malik Samarawickrama, Indian High Commissioner to Sri Lanka Taranjit Singh Sandhu, M & M Managing Director Pawan Goenka, M & M Chief of International Operations Arvind Mathew and others.
"Inauguration of this automotive assembly plant is a significant milestone for Mahindra's foray into the Sri Lanka market," said Goenka.
"Sri Lanka is a key strategic market for us and we are now fully equipped to deliver products customised to local needs on time. This new assembly plant will not only add to industrial growth in the country but will also generate significant employment opportunities at our plant and at supplier's end," he said in a statement.
Mahindra Ideal Lanka will assemble KUV100 with a production capacity of 5,000 units per year. The joint venture company will localise four components -- batteries, tyres, seats and exhausts.
The plant is expected to provide employment to 200 people directly and indirectly over the next two years.
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