The Hindu : Business : Mahindra's Haridwar plant on stream

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Friday, Dec 09, 2005

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Business

Mahindra's Haridwar plant on stream

The unit will roll out 50,000 three-wheelers a year

THREE-FOLD STRATEGY: Chief Minister of Uttaranchal, N. D. Tiwari (left), with Anand Mahindra, Vice Chairman and Managing Director, Mahindra & Mahindra, at the inauguration of the company's three-wheeler plant at Haridwar (Uttaranchal) on Thursday. — Photo: Ramesh Sharma

HARIDWAR (UTTARANCHAL): Mahindra and Mahindra (M&M) on Thursday inaugurated its full-scale automotive plant here. It plans to roll out 50,000 three-wheelers a year in this plant, starting early 2007.

"We are looking at a three-fold strategy here. The plant is primarily intended to give a fillip to our three-wheeler business. This plant and our tractor operations in Rudrapur will add momentum to the industrial growth of the State,'' M&M Vice-Chairman and Managing Director Anand Mahindra told reporters after inaugurating the plant.

Mr. Mahindra said the company was looking for a suitable location to set up a plant to make heavy vehicles after its recent tie-up with International Truck and Engine Corporation of the U.S. and Uttaranchal was one of the three States the company was in talks with. The company also planned to utilise the plant to manufacture electric vehicles, which would be commercially launched under `Champion-bijlee' in near future, M&M's Automotive Sector President Pawan Goenka said.

With investments to the tune of Rs. 80 crore, which includes Rs. 40 crore for setting up Neel Metal Product to supply cabs, cargo bodies and other sub assemblies, it is the company's fifth full-scale automotive plant. Other plants are at Kandivali, Nashik, Igatpuri and Zaheerabad.

PTI

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