Mahindra & Mahindra, today inaugurated its new manufacturing facility also dubbed as the 'future ready' plant in Chakan, Pune in the presence of Chief Minister Ashok Chavan and vice chairman and managing director of Mahindra & Mahindra, Anand Mahindra.
With an investment of around Rs 5000 crore in the first phase, the plant will have an installed capacity of 3lakh vehicles and would be scaled up to meet the global demand and standards. The plant is spread across 700 acres of land.
Speaking during the inauguration, Anand Mahindra said that it has been like a dream come true for Mahindra in such a short span of time. "We started the work on January 2008 and today two years later, our plant is ready to roll out products of the future. The plant is an answer to smart and sustainable engineering. We have focused a lot to " make this plant eco-friendly."
"Innovation has along been the strength of Mahindra group and the new plant at Chakan is all set to take the success story further," he added.
On the initiative confidence Mahindra has shown in the Maharashtra government, chief minister Ashok Chavan said, "History is being created today for Maharashtra. With such an huge amount of investment, this is the highest investment done by an automotive company and this is very encouraging. There was a time when Maharashtra was ridiculed for not so friendly measures for industries and today all those questions will be answered."
He said that Pune with its proximity to Mumbai has contributed a lot to the industrial development in the state and that the government is working on measures to be doled out for compnies to set up bases here.
Dr Pawan Goenka, president, Automotive Sector, Mahindra & Mahindra said that the company would be investing Rs 2500 now and the rest amount in the months to come. "For the plant to reach full capacity, it would take at least three to four years.The plant is equipped to role out multiple products from the 0.75 tonne Maxximo to 49 tonne Navistar truck and the first to be manufactured here will be the Maxximo followed by the Navistar trucks."
More than 2600 Maxximos have already roled out of the plant and by April '10, Navistar trucks will also be out. The company's new SUV and Pik-Up range and product line for the US market will also be manufactured at this plant.
The plant is expected to role out four products as of now, they are: Maxximo, Navistar trucks, new Mahindra SUV and new Mahindra Pik-Up.