Mahindra & Mahindra (M&M) close to finalising assembly investment in Tamil Nadu

Expected to start operations by financial year 2015/16

Mahindra & Mahindra (M&M) has reportedly finalised the location of its latest vehicle manufacturing plant. "We are close to finalising the deal and will make the announcement around June. We will invest INR40 billion [USD662.1 million] over 7–8 years for our new line of products, which will be launched [from] 2015 onwards," said Pawan Goenka, M&M president of automotive, farm equipment, and the two-wheeler division. According to a report in the Financial Express, the automaker is expected to make a formal announcement after signing a memorandum of understanding with the Tamil Nadu state government soon after the parliamentary election is over. Expected to start operations by financial year 2015/16, the 400-acre Cheyyar factory will produce M&M's new set of models, including a compact sport utility vehicle (SUV) codenamed S101, a new mid-size SUV codenamed U301, a global multi-purpose vehicle codenamed W202, and a new light commercial vehicle to replace the Maxximo mini-truck.