Pune: Mahindra & Mahindra on Tuesday forayed into the intermediate commercial vehicles (ICV) segment with the unveiling of Furio range of trucks in Pune, and said it has invested Rs600 crore in developing the platform.
With the unveiling of new vehicles from Mahindra’s Truck and Bus (MTB) Division, the group has established its presence across all the segments of commercial vehicles, said Pawan Goenka, managing director, Mahindra & Mahindra.
“The unveiling of the new Furio is a defining moment for our truck and bus business as we are set to become a full-range commercial vehicles player. We have invested Rs600 crore in creating the ICV platform," he said.
Mahindra & Mahindra’s automotive sector president Rajan Wadhera said with the addition of the new range of ICVs, MTB will emerge as a complete trucking solutions provider to the country’s commercial vehicle market.
The company unveiled four new trucks on Tuesday, of the 21 it plans to roll out in the new ICV range.
“We plan to launch six trucks in the current fiscal year," said Vinod Sahay, chief executive officer, Mahindra Truck and Bus and Construction Equipment Divisions, Mahindra & Mahindra.