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- Feb 19, 2024
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Mahindra & Mahindra (M&M) has planned to invest Rs 4,000 crore on a manufacturing facility in Tamil Nadu. The investment will be spread over a period of seven years, with the investment planned to be divided into two stages. The proposed facility will be built in Cheyyar 100km to the south of Chennai. This upcoming new facility is said to be the largest for the company in the country, outside Pune.
In the first phase the company plans to set up a Rs 2,000-crore test track which will be followed by an automobile plant with an additional investment of Rs 2,000 crore. The test track will be built on a 255-acre land which is promised by the Tamil Nadu State government according to the company. The proposed facility will need another 200-acre land and will be considered after the company reaches full capacity at its Chakan plant in Maharashtra.
The company neither released details on the timeframe, on when the company is likely to achieve a saturation point at Chakan, nor shared details of the present capacity utilisation.
The Indian automaker had been keen on investing in Tamil Nadu for quite some time. Reports suggest that the company planned to set up a tractor unit or an automobile factory in the state.
The project, however, was delayed over the years and M&M in the interim period invested in the automobile plant in Chakan and a tractor plant in Zaheerabad Andhra Pradesh.
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