Mahindra and Mahindra (M&M) will invest Rs 700 crore to develope intermediate and light commercial vehicles to become a full range player over the next two years. The Mahindra Truck and Bus Division (MTBD), part of the Mahindra Group, will focus on developing vehicles in the nine to 16 tonne range. That will ensure Mahindra has vehicles from six to 49 tonne in their product portfolio.
As part of the product development project which began last year, the company plans to introduce intermediate commercial vehicles (ICVs), medium commercial vehicles (MCVs), upgrade light commercial vehicles (LCVs) and consolidate its heavy commercial vehicles (HCV) segment. MTBD announced the roll out of its 15,000th HCV from the Chakan facility. In addition, the company also reached a sales milestone of 1.25 lakh LCVs on Indian roads.