Mahindra to invest in commercial vehicle development
Of the total, Rs 300 crore will be in the development of a completely new platform for ICV (8-12 tonne), which will have multiple applications. A part of the money could also be spent on development of an MCV, although the segment is shrinking due to cost economics in India. The remaining Rs 200 crore will be invested on strengthening its current product line-up of trucks and buses.