M&M to allocate Rs 1,000 cr for capex

Utility vehicle maker Mahindra and Mahindra said on Wednesday that it will invest R10,000 crore in the next three years towards capacity expansion and launching new products.

Utility vehicle maker Mahindra and Mahindra said on Wednesday that it will invest Rs 10,000 crore in the next three years towards capacity expansion and launching new products.

The company said it is in talks with Maharashtra government for setting up a new plant in the state.

Pawan Goenka, president (automotive and farm equipment), Mahindra and Mahindra, said: "In the next three years we are investing Rs 10,000 crore, of which Rs 7,500 crore is for capex on automotive and farm equipment and another Rs 2,500 crore on group companies."