Friday, April 13, 2012
By Manoj Kumawat
Mahindra & Mahindra to boost itself with MRV
Inspired from the grand success of the Mahindra XUV 500, the Indian utility car maker, Mahindra and Mahindra (M&M) has planned to introduce some more inspiring products from its Research & Development centre, Mahindra Research Valley (MRV), located in Chennai. This Wednesday, the company formally inaugurated this R&D centre which also played a key role in the development of Mahindra’s calibrating SUV, the XUV500 that was launched in 2011.
XUV500 got an incredible response from the enthusiasts and in January, this year it received 5,900 booking applications in first two days of reopened bookings. Earlier, the company had to close its bookings after getting overwhelming response of more than 8,000 bookings within 10 days of its launch.
| See More Mahindra XUV 500 Photos | Get Mahindra XUV 500 Price |
President, Automotive and Farm equipment sector, M&M, Mr. Pawan Goenka stated that several tractors and other automobile products would also be developed and tested at its state of art R & centre. M&M has invested Rs. 650 crores in the establishment of MRV which is spread in 124 acres. This R&D centre has been designed in six years by renowned architect Charles Correa.
| See More Mahindra XUV 500 Photos | Get Mahindra XUV 500 Price |
Mr. Goenka stated that M&M is looking seriously on research & development and it also plans to get a better competitive global edge. He also added that in 2011, the company invested Rs. 750 crores in R&D. He affirmed that the investment of R&D is around 3% of its total revenue.
| See More Mahindra XUV 500 Photos | Get Mahindra XUV 500 Price |
Mr. Goenka also commented that the MRV would play a key role for their future product developments. He added that they have invested Rs. 650 crores in order to proceed with product development in full swing. Mahindra along with its Korean subsidiary, Ssangyong is currently working on four different engine platforms. Besides this, the company is also working on the development Electric Vehicles with EV subsidiary, REVA at Bangalore. Furthermore, you can also expect Mahindra to introduce a hybrid vehicle by 2015.
