The Mahindra Group set a revenues target of Rs.20,000 crore by 2020, brought by the growth of two-wheeler industry.
The company recently inaugurated the Mahindra 2 Wheeler new research & development (R&D) centre in India, in which it invested Rs.100 crore.
“We are committing to spend Rs.500 crore in two-wheeler R&D in the next five years. We are keen to develop products that give more for less. There is no need for much investment in capacity building as debottlenecking has already been done,” said Anand Mahindra, Vice-Chairman and Managing Director, Mahindra Group.
The Pune R&D centre has 175 designers and engineers and is the 3rd largest two-wheeler R&D plant in India. The company plans to increase the number of employees to 300 in the near future. The plant includes a vehicle design and development facility, an engine development centre (EDC), a prototype centre and testing facilities.
Mahindra also presented two new engines manufactured at this facility: a 110-cc engine and a 300-cc liquid cooled engine. Mahindra 2 Wheelers will also produce engine technology for the company’s motorcycles as well and will launch three motorcycles by the end of this year: the 110-cc Stallio, the 300-cc Mojo and the a third one which would straddle the segment between the other two bikes.