Mahindra and Mahindra is close to finalising a deal with Tamil Nadu Government for setting up its seventh plant in the country. The company will make an investment of Rs 4000 crores for this new plant, which will be destined for assembling company's upcoming models from the year 2015-2016. The new facility will be a part of Mahindra's 10,000-crore investment plan which company announced earlier to make in next three years for maximising its production capacity and further development of new models.
Mahindra is said to have finalized 400 acres of land for its new plant at Cheyyar in Tamil Nadu where the company will assemble its future vehicles including its upcoming compact SUV codenamed as S101. The other models include the new Scorpio, a new global MPV (W202) and a new Light Commercial Vehicle (LCV) that will replace the Maxximo. Interestingly, Mahindra also operates its research and development facility, called as Mahindra Research Valley in the same state, which presently employs 2500 people.
Mahindra is India's largest UV maker along with being the biggest tractor manufacturer across the globe. The company is also making huge investments for development of a new range of diesel and petrol engines in collaboration with its Korean partner, Ssangyong to power its future lineup.