New vehicle launch: Indian company Mahindra plans to launch 23 vehicles in the next 3 years. The company’s CEO said that it will invest 3.7 billion rupees during this period and plans to launch a new SUV. At the same time, production capacity will also increase.
6 new SUV models
The company said that 6 of the 9 ICE SUVs launched this time are new models and 3 are upgraded versions of existing models. Discussing Mahindra & Mahindra’s quarterly results, Shah said, “We are looking to invest Rs 37,000 Million in cash in the next three years. A major chunk of this will go to the auto division.
To invest Rs 270 Million in two years
The company has approved Rs 27,000 Million for the vehicle segment between FY 2024-25 and FY 2026-27. The company will invest 14,000 billion rupees in the ICE segment to develop new models and upgrade existing models. Shah said the company will also invest Rs 12,000 crore in the EV (electric vehicle) segment.
There is no need to ask for money from anyone
Answering the question of how the company will prepare the budget, Shah said that the company will not need external financing and that the automobile business will raise money on its own. In addition, the company will invest 5,000 billion rupees in agriculture and service sectors. Rajesh Jejurikar, Director and CEO (automobile and accessories farm) Mahindra & Mahindra plans to increase SUV production capacity to 64,000 units per month from the current 49,000 units.
