Just two days back we reported that Mahindra & Mahindra will launch six new cars in this fiscal. We also discussed that Mr. Pawan Goenka, President (Automotive Business), M&M, said: the company is in talks with some states but so far it has not finalised the location. And now Economic Times reports that Mahindra & Mahindra might set up their new plant at Tamil Nadu.
Mr. Anand Mahindra, Vice Chairman and MD, met the Chief Minister of Tamil Nadu. A few other officials were also present in the meeting. After the meeting, Mr. Mahindra told reporters: “We are on an exploratory visit. The meeting is to discuss an exploration for a new investment for an automotive plant”. He also said that the company is also looking into other states for investment as well.
However, Mr. Goenka denied any confirmation about this and said this meeting with the CM was the very first one “and we are looking for land and the incentive package that the state can offer”. The investment for the proposed plant will be around Rs. 4,000 Crores, he also added.
Mahindra & Mahindra is supposed to come with a 500 acre, Rs. 3,000 Crores plant in Uttarakhand. You can read more about it here.
News Source: Economic Times