Mahindra places new emphasis on truck & bus operations

  • 29-Oct-2013 03:07 EDT

Mahindra & Mahindra Ltd. has renamed its truck and bus division post buyout of the Navistar equity in the joint venture, with Mahindra Navistar Automotive Ltd. becoming Mahindra Trucks and Buses Ltd. (MTBL), a wholly owned subsidiary and part of the Mahindra Group. The company intends to demerge its trucks and buses operations from MTBL into Mahindra & Mahindra to derive greater synergies. It also plans to invest Rs 200 crores to further strengthen its existing product lineup and start exploratory work for new product lines that could lead to further capital infusion of over Rs. 300 crores. MTBL has announced new branding for its heavy-commercial-vehicle range. The multi-axle trucks will now be called Mahindra TRUXO 25 and TRUXO 31; tractor trailers will be called Mahindra TRACO 35 and TRACO 40; and the tippers will be called Mahindra TORRO 25 and TORRO 31. Dr. Pawan Goenka, President Automotive & Farm Equipment Sectors, Mahindra and Mahindra Ltd., said, “We are fully committed to our commercial vehicles business and intend to focus on running the LCV, Truck and Bus business as a separate division post the proposed demerger, with the objective of growing our presence in the Indian commercial vehicle industry...Exploratory work has also begun for the introduction of new products that will help address the ICV and MCV segments in the 7.5- to 16-ton GVW category.”

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