Mahindra & Mahindra Ltd.

Mahindra & Mahindra plans to more than double the output of its much sought after premium SUV, XUV 5OO to 4,000 units within the next 6 months. After getting phenomenal response of over 8,000 bookings within 10 days of its launch, M&M had stopped bookings of XUV 5OO. The company now plans to reopen bookings in January and would be adding at least 4-5 more cities.

Mahindra Navistar Automotives, a joint venture between Mahindra & Mahindra and the US-based Navisar International Corporation plans to invest Rs 250 crore at the Chakan unit to ramp up the commercial vehicle manufacturing and distribution network. The company has already invested Rs 710 crore at the Chakan unit, out of the total project cost of Rs 1,000 crore and will be investing around Rs 250 crore in the next couple of years to increase production capacity of HCVs and expand their distribution network. The company has Rs 750 crore of equity and 50-50 invested by both the partners along with debt. The company is not making any profits, as its volumes are very small at present. But as the company ramp up their production capacity, in the next 12 months, it expects cash break-even.