Mahindra & Mahindra to invest R4k cr on new Tamil Nadu unit

By: | Published: February 15, 2015 12:37 AM

Auto major Mahindra & Mahindra (M&M) on Saturday said it will make a fresh investment of R4,000 crore...

Auto major Mahindra & Mahindra (M&M) on Saturday said it will make a fresh investment of R4,000 crore in Tamil Nadu for setting up an automotive as well testing facilities at Cheyyar near Chennai. The company will sign a memorandum of understanding (MoU) with the state government at the latter’s Global Investors Meet (GIM), a first such event to be organised by the state government, in May this year.

Pawan Goenka, executive director, automotive division of M&M, who was in Chennai to attend the curtain raiser of Tamil Nadu government’s GIM, told reporters the company will make a fresh investment of R4,000 crore in two phases over a period of seven years. The company has identified 250 acres of land at Cheyyar and the government has agreed to allot the same. In the first phase, the company will set up a vehicle testing facility to test all its models in future. The company is now testing all its vehicles abroad before commercially launched. In the second phase, the company would set up a flexible automotive plant, whcih will make both passenger as well commercial vehicles.

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