After opening Rs. 650 crore Mahindra Research Valley (MRV) in Chennai, Mahindra & Mahindra (M&M) is now planning to set up research centres abroad, possibly in the United States and United Kingdom.
“We have one R&D centre in Italy,” Pawan Goenka, president, auto sector, M&M told HT. “We have plans to set up more centres abroad.”
Mahindra has an engineering and design centre in Italy and M&M’s subsidiary Ssangyong has strong R&D capability in Korea.
M&M has combined research and testing facilities of both its tractor and automotive divisions at its Chennai research facility. And besides 34 laboratories, MRV will have test tracks too.
“We have labs which will work on CO2 reduction, hybrid vehicles and hydrogen fuel,” said Goenka. There will be research on passenger safety and polymer technology, he added.
Mahindra’s R&D wing has strength of 2,500 engineers and designers. He said the company will increase R&D staff strength by 8-10% every year.
M&M had spent Rs. 750 crore on research and development in the last fiscal year. With various products and technologies in the pipeline, the firm’s R&D expenditure is likely to touch Rs. 1,000 crore this year. The company plans to enhance its research in areas such as embedded systems, infotronics, artificial intelligence, mechatronics and advanced telematics.
XUV500 is the first product to be designed and developed in MRV.