By IANS,
New Delhi : Auto major Mahindra and Mahindra (M&M) Tuesday inaugurated a defence-vehicle manufacturing plant in Haryana’s Prithla region.
The Rs.400-million (Rs.40-crore) facility is expected to roll out 200 vehicles by year-end.
“The company is also looking for a long-term strategic partner for its naval business,” Mahindra chief executive Khuttub Hai told reporters.
The factory, which started production in January, will initially build armoured version of Mahindra’s Scorpio and Bolero sports utility vehicles (SUV).
Later, the plant will produce Axe military vehicles as well as mine-shielded vehicles.
Mahindra’s defence vehicle business is targeting a revenue of Rs.20 billion in five years from Rs.1 billion currently.