Mahindra and Mahindra has revised their investment plan for the three years of Rs 15,000 crore from Rs 18,000 crore. It has announced earlier. Before some months Mumbai based company has raised the investment target from Rs 15,000 crore to 18,000 crore. From some top companies revised amount is earmarked for the financial years 2019-20, 2020-21, 2021-22. This will be used for product development, new technologies, production enhancements and strategic financial investments.
The managing director of Mahindra and Mahindra Pawan Goenka said that we have decided to use Ford engine plan in Gujarat for producing Mahindra engines. These engines will help to save Rs 4,000 crore for us. Ford and Mahindra are doing partnership therefore there will be saving of Rs 1,000 crore. So we can say that we have saved Rs 1,000 crore from 18,000 crore.
These two companies will develop C segment and B segment sports vehicles which will start hitting the market in next financial year. Goenka also said that there will be need for normalcy in the production of China. India is dependent on China for some components like electronic control unit. Because of coronavirus China has extended days.If there is another delay from China there will be effect on Bharat Stage IV vehicles to the market. These 3,000-odd vehicles are ready but there is need of only one component .There are some notifications from government because of them BS-IV vehicles will be exhausted before April 1 and BS-VI vehicles will be allowed for sale after that date.