Styled as Maxximo, the new LCV from the company will be the first product to roll out of the Mahindra-Navistar plant in Chakan. The product will be competing against others in the Tata Ace category. Mahindra has a 51:49 joint venture with US-based Navistar to manufacture commercial vehicles. Speaking to the press here, Pawan Goenka, president, automotive sector, M&M, said, The light commercial vehicle market is growing at a CAGR of 20%. The sub-one tonne segment stands at 10,000 units per month. He added that the EV on display will be launched in end 2010. Maxximo is an all new platform powered by a Mahindra engine. The company will launch the cargo application and eventually roll out variants of the same platform.
M&M has developed hybdrogen-CNG powered vehicle which it said could be launched in a year and a halfs time, depending upon the infrastructure. The commercial viability of hydrogen is difficult as there is no infrastructure ready in the country. We see a hydrogen-CNG mix run vehicle is possible and the industry as a whole is looking at it closely, Goenka added.