Mahindra & Mahindra Ltd.

Mahindra and Mahindra’s (M&M) truck and buses division is reportedly aiming to double its market share in the heavy commercial vehicles (HCVs) space in the coming two years, besides strengthening its buses business. Moreover, in short span of time the company is planning to enter the intermediate CV (ICV) space, a category it is absent in. In this regards, the company is putting aside Rs 700 crore.

The ICV space comprises trucks midway between heavy tonnage and light ones. The majority of the allotted investment will be pumped in the second year of the project in its 700-acre factory, a new one, at Chakan near Pune in Maharashtra, which has an installed capacity of 50,000 vehicles a year on a three- shift basis.