Major Industries Minister J. Geetha Reddy on Thursday said that a small car manufacturing unit would be set up in the State and the name of the company which would establish the unit and the place would be disclosed later.
Speaking to the media after holding discussions with Chief Minister N. Kiran Kumar Reddy to review the industrial scenario in the State a day after launching of the tractor manufacturing facility set up at Zaherabad in Medak district by Mahindra & Mahindra, she said incentives and concessions, as under the present industrial policy, would be extended to the tractor unit.
She said 20 more ancillary units supporting the tractor unit were likely to come up in the area in addition to the eight already functioning.
She hoped that the tractor unit would give the much needed boost to industrial development in Zaheerabad area and push the land values upward. One of the two national manufacturing zones sanctioned to the State would come up in Medak district. She said Mahindra & Mahindra was planning to make road passenger carriers also.
M&M unveils new technology
Automotive major Mahindra and Mahindra has unveiled new Fuel Smart technology, an innovative technology that allows users of its sub One Tonne mini truck Maxximo Plus to switch between power and mileage.
Fuel Smart technology allows users to opt power mode, using all the 26HP power, when fully loaded. Users can switch over to the economy mode, for better mileage, once the hilly terrain or steep inclines are crossed, all at the press of a button. “The new technology will allow vehicle owners to save about 30 per cent on fuel costs,” M&M Automotive division chief sales & customer service officer Arun Malhotra said.
The technology, first of its kind deployed in the automobile sector in the country, was developed in-house and the company had applied for a patent in this regard. Mr. Malhotra was here on Thursday in connection with the launch of Maxximo Plus in the State market. Maxximo Plus would be available at ex-showroom price ranging between Rs. 3.47 lakh and Rs. 3.55 lakh.
He said the company’s research and development teams embarked upon developing fuel saving modes owing to market sensitiveness on price and fuel sensitivity. The commercial vehicle segment had suffered because of the economic slowdown, but the mini truck segment continued growth and M&M was confident of increasing its market share from the current 22 per cent.