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Mahindra Truck & Bus Division (MTBD), a wholly-owned unit of USD 19-billion Mahindra Group, today said that the first set of product under its new intermediate commercial vehicle (ICV) segment will be launched in the next financial year.
"We are working on the whole range of ICV segment and the first set of products will be launched in FY19, as part of our plans to become a full range CV player," MTBD chief executive officer Vinod Sahay told PTI here.
The firm is investing Rs 600 crore for a new platform at Chakan, Maharashtra, where it will develop a range of ICV and LCV (light commercial vehicle) products, said Sahay.
"The company is in the process of addressing every segment of the commercial vehicle market, from 3.5 tonne gross vehicle weight (GVW) to 49 tonne GVW, with variants that meet the varying needs of cargo and specialised load applications," he said.
With over 185,000 vehicles already on the road, the company is the fourth largest player in the HCV segment, and has already sold more than 40,000 trucks.
It has a 9.4 per cent market share in the LCV segment.
The company has been rapidly expanding its after-sales service and spares network, which now includes 92 3S dealerships, over 129 authorised service centers, 2,900 roadside assistance points and 2,069 spares network points.
Meanwhile, MTBD today introduced a set of service offerings for Blazo HCV truck customers, with an aim to lower their cost of ownership.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)