Maharashtra

Nashik and Igatpuri factory to get 1500 crores from M&M

For the preparation of the new project U231, M&M has decided to invest heavily in the Nashik and Igatpuri factories in Maharashtra. The Nashik plant’s investment would be used for manufacturing the vehicles whereas the investment made in the Igatpuri plant will be used for making as well as supplying quality engines. The project would be an Ultra Project and is currently being designed and developed from North American facility of Mahindra. The car design is set to take on the popular Toyota Innova when it releases in the financial year 2018. It is being reported that the Nashik factory will first be expanded and then the project will be transferred here. According to the MD of the Mahindra and Mahindra group Mr. Pawan Goenka, the better government policies, efficient practices as well as the efficient labor is the reason why the project has been chosen to be transferred to the state’s Nashik factory. As per Goenka’s statement, the company and its expansion policies for the Nashik factory will not only help in the development of the Nashik area but facilitate the overall development of the state as well. Mahindra has not been able to perform well in the sector in the last few years because of high competition. The release of this project in the financial year of 2018 is set to increase the single digit growth percentage of the company. Currently, TUV and other releases are managing to keep the M&M on the map.

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