Auto major Mahindra and Mahindra would launch a passenger vehicle variant under the Maxximo platform over the next 12 months, a top company official said here today.
The company at its Chakan plant near Pune has already invested close to Rs 300 crore. With these investments the company would introduce a passenger vehicle variant under Maxximo platform, Mahindra and Mahindra Chief Executive (Automotive Division) Rajesh Jejurikar told reporters here.
"We have made investments of Rs 300 crore in our Chakan plant. This will be utilised for ramping up our facility... That will be sufficient for us... But we may require to make marginal investments as and when required (for introducing the new variant of the passenger vehicle)," he said.
Declining to elaborate on the variants, he said the company is "currently working" on introducing new vehicles.
The first variant would be introduced in the first 12 months which would be followed by the second variant, he said.
They were looking at ramping up their production facility by end of next month. "Currently it is producing about 2,000 vehicles per month after ramping up it would produce 3,000 units... We expect that should happen by end of next month."
On their plans of setting up a tractor facility in South India Jejurikar said would be utilised by the "farm division".
"It is primarily for the factor (farm) division...," he said.
Rajesh Jejurikar was here to unveil the company's Maxximo mini-truck range in the Tamil Nadu market. "It is one of the biggest market for us.. This contributes about 20 per cent of the total sales (in the country)," he said.
On the launch of Mahindra Gio - the company's first four wheel 0.5 tonne compact truck which the company introduced recently, Mahindra and Mahindra Senior Vice-President Arun Malhotra said it has got a good response.
The company has already launched Mahindra Maxximo in other parts of the country and they have garnered 23 per cent of market share in the mini-truck category. "We hope to grow at 20 per cent this year," he said.