M&M setting up manufacturing unit in Tamil Nadu

Mahindra & Mahindra, an established name in the domestic market will set up a manufacturing unit in Tamil Nadu. As per the Tamil Nadu government officials, the production plant of M&M will manufacture the passenger vehicles.

The news was revealed by Mr. Velmurugan, the Executive Vice Chairman, Guidance Bureau, Industries Department, when he was speaking at the India-Hiroshima Prefecture Business Matching Seminar 2010 which was organized by Confederation of Indian Industry.

He said that, Mahindra & Mahindra is planning a massive investment as the company wishes to have a capacity of 1.4 million cars per year which is 1.3 million cars.

From the earlier reports, from M&M group, the company wanted to start a tractor production in Tamil Nadu, but now starting a manufacturing of passenger car seems a changes in the strategy.

M&M, the locomotive producers are also in planning to launch new cars to enter the global market. The company is developing a new four wheel drive which will be based on monococque. Mahindra Xylo, Mahindra Bolero and Mahindra Scorpio are the old horses which the company wishes to launch again by revamping them. M&M is also planning to start with the new project Reva which will be based on Logan platform.

Looks like there is no stopping for Mahindra & Mahindra, as the company has closed deal with Ssangyong, the Korean company. Soon there will be range of products which will manufactured from the M&M and Korean company which will be loaded with features and advanced technology.

Mahindra and Mahindra has performed outstanding in this quarter. The revenue generated rose by 19 per cent to Rs 54 billion. Mahindra & Mahindra also registered a growth of 7.90 per cent and net profits accounted at Rs 758.49 crore. In the second quarter the total revenue shot up to 19.23 per cent from Rs 4,557.77 crore generated last year to Rs 5,434.36 crore.

The automotive market increased by 26 per cent, and credit for it goes to Mahindra Xylo and new launches by M&M, 'Gio' and 'Maxximo' in the small commercial vehicles segment. Mahindra Logan also increased and doubled to 2.6k units. The sales of Tractors also rose to 13 per cent to 46 k vehicles.

Mahindra & Mahindra has a strong hold in the Indian auto market. The company stands strong with products in SUV segments Mahindra Scorpio, Mahindra Bolero, Mahindra Scorpio and Mahindra Xylo.

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