Mahindra & Mahindra(M&M) is going to open its manufacturing plant in the world’s auto capital Detroit this year. By doing so, it will become the first Indian car maker to open its operation in the US. The company has generated ₹9,600 crores in the US and is expecting to generate ₹16,000 crore revenue and double the figures in next two-three years. It also plans to hire 3,000 people for its US greenfield auto manufacturing plant.
Group Chairman, Anand Mahindra in an interview in New York said, “We are looking at opening (the plant) this year. That’s a major milestone where an Indian automotive company is opening up manufacturing in a resurgent Detroit. I think that’s a wonderful twist of history”.
He added “I believe America will be one of the most rewarding places to invest. Trump’s policies on immigration which have been criticized will play out with negative consequences almost five-ten years later but it doesn’t take away the attractiveness of America”.
M&M will soon be going to take a final call on approving the global launch of luxury electric sports cars along the lines of Tesla Inc. under the Turin-based Pininfarina brand, which is the Italian design and engineering house majority-owned by Tech Mahindra.
Meanwhile, Mahindra will soon be going to launch electric Peugeot Scooters in Europe.