Mahindra to begin exports to Brazil 2007-end

Mahindra to begin exports to Brazil 2007-end
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First Published: Fri, Aug 24 2007. 11 28 AM IST
Updated: Fri, Aug 24 2007. 11 28 AM IST
Reuters
Mumbai: Mahindra & Mahindra Ltd , India’s top utility vehicle maker, will begin exports of its pick-up truck to Brazil by the end of the year, a company official said on Friday, as the company expands in Latin America.
Mahindra’s Scorpio Pik-Up single and double cabin models will be assembled by Brazil’s Bramont for sale locally initially, said Pawan Goenka, president of Mahindra’s automotive division.
Bramont has a capacity to assemble 5,000-6,000 vehicles a year and could export the vehicle to other Latin American markets depending on demand, he said.
“We will be exporting CKD (completely knocked down) units, and all investments will be made by our partner,” Goenka said.
Mahindra, which launched the Scorpio Pik-Up in Chile earlier this month, will also begin exporting the Scorpio SUV to Egypt in a similar arrangement in the first half of 2008, Goenka said.
Mahindra is following in the footsteps of bigger rival Tata Motors Ltd, which has a venture with Italy’s Fiat, to make Fiat-branded pick-up trucks in Argentina for sale in South and Central American and some European markets.
Mahindra, which also makes the Logan no-frills sedan in a joint venture with Renault in India, will begin selling its SUVs and pick-up trucks in the United States from 2008.
It aims to quadruple exports by 2010 and get about a fifth of its revenue from exports in a few years, up from 5%.
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First Published: Fri, Aug 24 2007. 11 28 AM IST