Mahindra ventures into construction equipment bizz
India's largest tractor and sports utility maker, Mahindra and Mahindra (M&M) today announced its entry into the construction equipment business with the launch of the first indigenously developed - Mahindra EarthMaster- backhoe loader.
"With the launch of EarthMaster backhoe loader, we have entered into a large, fast growing and profitable construction equipment business. We have an engineering ability and we are hopeful of launching more products in earth moving segment in the near future," M&M's President Automotive and Farm Equipment Sectors Pawan Goenka told reporters here.
The company has invested Rs 300-crore in manufacturing and product development and will manufacture 200 units per month at its Chakan, Pune plant in Maharashtra, Goenka said, adding that the capacity will increase to 300 units per month next year.
The Mahindra EarthMaster priced at Rs 20,98,400 (ex showroom Maharashtra) has undergone over 20,000 hours of rigorous testing in the harsh terrains and for the toughest applications during the last years, it added.