Tractor and utility vehicle major Mahindra & Mahindra will launch four new models this fiscal including a compact sports utility vehicle, a sub-4 metre variant of its entry-level sedan Verito, a full-fledged four-seater electric car Mahindra Reva NXR and the Rexton SUV from its South Korean subsidiary Ssangyong.
The company will also launch a pick-up variant. “There will also be one or two surprise launches,” said Pawan Goenka, president, auto and farm equipment sector, Mahindra & Mahindra.
Goenka said M&M will invest Rs. 2,500 crore for three years including this fiscal for equity infusion, and on acquisitions. He said M&M is looking to acquire tractor companies abroad.
Goenka has said the company would look outside Maharashtra to set up its next plant, as the state has deferred tax refund for sourcing and sales within the state and limited VAT setoff to vehicles sold within the state.