M&M to invest over $67 million in new plant

M&M to invest over $67 million in new plant

Mumbai: Mahindra & Mahindra (M&M), India’s largest utility vehicles maker, will invest more than Rs300 crore ($67 million) in a new tractor plant in the southern state of Andhra Pradesh.

The plant will have a capacity to make 100,000 tractors and production will start in 2012, the company said in a statement.

Earlier this month, Mahindra said it had completed all formalities related to the acquisition of a majority stake in Ssangyong Motor and will boost product development and brand spends at the South Korean sport utility vehicle maker.

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