New Delhi: Auto maker Mahindra & Mahindra on Friday said that it will launch its commercial vehicle in the medium and heavy segment in January next year.
“Truck will be launched in collaboration with US-based Nevistar,” Mahindra & Mahindra President (Automotive) Pawan Goenka told reporters on the sidelines of SIAM annual convention here.
Mahindra has formed a joint venture with Nevistar Inc—Mahindra Nevistar Automotives Ltd.—to produce the entire spectrum of commercial vehicles ranging from 3.5-49 tonnes. The JV would also produce buses.
Besides, the company is also planning to roll out sub-1 tonne category four-wheeler by the 2009-end.
Asked if time is right for launch of commercial vehicle as the segment has been posting negative growth for past few months, Goenka said the new product will provide stimulus to the industry as all new launches help revive the industry.
On the company’s growth target, he said it expects growth in range of 5-7% this year.