58.20 (1.87%) Mahindra & Mahindra (M&M) has inaugurated its factory in the Mecca of automobile manufacture, Detroit. The company has invested $230 million and created 250 jobs in the plant which will have a capacity to produce 10,000 units of Roxor, an off-highway vehicle. Mahindra Automotive North America (MANA), will invest another $600 million in the facility by 2020 adding a further 400 jobs.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.