Thursday, July 18, 2019
By Manoj Kumawat
M&M To Invest Rs. 500 Crore For Extending Its Production Activities
With an objective to comply with the new EV policy issued by the government of Maharashtra, domestic car maker Mahindra & Mahindra will invest Rs. 500 crore for developing electric vehicles. Along with this the company will also focus on sharing the developing technologies for developing petrol engines and connected vehicles. As far as development of electric vehicles is concerned the home grown car maker intends to bring the electric versions of KUV100 and XUV100, soon in the market.
According to the report, "The business landscape is changing rapidly and so are the enablers for success. What has been the winning combination in the past, is no more a winning formula today and in times to come,". Moving ahead the report also said, "Going into the future, the product, the cost and the channel will be essential, but not sufficient. Much more will be needed to win at the marketplace. The winning mantras are going to be around providing a solution, delivering an experience and having a purpose."
Briefing the report, the sources of company said that to retain the sustainable growth it is focusing on developing the new strategies and concentrating on all the major areas including bringing the upgraded versions of its existing vehicles, strengthening research and development and technology capabilities and many more.
As far as adaptation of new technology is concerned it will focus on developing gasoline engines, new safety features, improving the levels of emission, electric and connected vehicles and also on exploring its activities in the off-shore markets.
Commenting on the relevance of the electric vehicles, the report says that, continuing its past preferences, the company continues to invest in adopting new technologies and bringing new products to satisfy the needs of the customers.
Speaking about the company’s collaboration with the US based car maker Ford, the report said, that both the groups will work on developing the connected vehicles and will try to introduce the technology on all their existing and upcoming products. Along with this, both the groups have also joined hands to develop a new compact SUV based on the platform used by the domestic car maker Mahindra. The vehicle will be produced by Mahindra and Mahindra and supplied to the Ford company.
