Mahindra & Mahindra on Monday announced its entry into the heavy commercial vehicle segment in partnership with Navistar Inc of the U.S.
The joint venture company — Mahindra Navistar Automotive Limited (MNAL) — has launched 25-tonne and 31-tonne trucks, developed specially for the Indian market with an investment of Rs. 650 crore.
Mahindra Group Vice-Chairman and Managing Director Anand Mahindra said: “This launch of our heavy duty commercial vehicles is a major step towards fulfilment of the commitment to develop into a full line commercial vehicle manufacturer.”
According to Navistar Truck Group, U.S., President Dee Kapoor, “India is an important market in our global growth strategy. Over the next few months, we will be introducing a range of products which I am sure will revolutionise the heavy commercial industry in India.”
MNAL will start selling its products by the end of the current fiscal, where the company would initially be focussing on the domestic market, and later look for exports in right-hand-drive markets, particularly developing countries in the SAARC (South Asian Association for Regional Cooperation) region, Southeast Asia and Africa.
