Mahindra and Mahindra (M&M), one of the leading automaker is planning to expand their vehicle production in Sri Lanka in order to strengthen its global footprint.
The company informs that they are still contemplating assembly operations in Sri Lanka and have not yet finalised anything yet. They expect to sell more than 10,000 Mahindra branded vehicles including 3-wheelers, during the current financial year.
In addition to the passenger vehicles, Ideal also aims to import two wheelers and heavy-duty trucks from Mahindra and Mahindra. Recently, Sri Lanka-based Ideal Group of companies is the authorised dealer for M&M’s products in the emerald island.
Pawan Goenka, President of automotive and farm equipment sectors of M&M expresses that the company is increasing focus on exports. Right now their plan is to consolidate in markets where they are already present. They have identified some markets as strategic where they are spending a lot of money in brand building.
Further he adds that they also have a desire to build Mahindra as a global brand. Chile, South Africa and some neighbouring countries are some of the key markets for the company.