JOIN USAuto major Mahindra & Mahindra (M&M) plans to launch three new vehicles, including two compact SUVs, next year as it looks to strengthen its position in the domestic market.
In the two-wheeler segment, the firm which is in the process of acquiring 51 per cent stake in Peugeot Motocycles for 28 million euros, is eyeing various global markets besides India to launch the French firm’s products.
“We were slow on launches in 2013 and 2104. Now we are back with new launches. In 2015, we will launch two sub-4 meter compact SUVs and one light commercial vehicle. All the three would come on completely new platforms,” Mahindra & Mahindra Executive Director Pawan Goenka said.
The company is also in the process of developing new series of engines with its Korean arm Ssangyong, he added.
Earlier this year, M&M had announced plans to invest Rs 4,000 crore at the Chakan plant to take the overall capacity to 7.5 lakh units annually when fully operational. The fresh infusion would take its total investment in Chakan to Rs 8,000 crore. In 2013, the it had announced plans to invest Rs 10,000 crore in three years.
Commenting on the plans with Peugeot Motocycles, Goenka said, “We are looking at ASEAN region, particularly Vietnam, North African countries and India to launch products from the Peugeot Motocycle portfolio.”