Mahindra eyes assembly plant in South East Asia
With high growth in the South East Asian markets such as Thailand, Indonesia and Malaysia, M&M has reportedly decided to establish an assembly plant in one of those countries. According to reports, the assembly plant is likely to offer products ranging from M&M’s utility vehicles to pick-ups, Ssangyong SUVs, Mahindra tractors, along with products from Chinese tractor joint ventures Jiangling & Yeuda Tractors.
Currently, M&M exports vehicles to that region and is aiming to expand to other markets in ASEAN countries.
Pravin Shah, chief executive, international operations, automotive & farm equipment sectors commented,
The market size for utility vehicles and pick-ups in ASEAN markets is more than 700,000 units per annum and for tractors is more than 55,000 units. Mahindra, a specialist in both of them, cannot afford to let this opportunity walk by.
The new plant is likely to come up in next couple of years.