M & M Plans R & D Centre At Thane
Automobile major, Mahindra & Mahindra (M&M) is setting up an engineering and product development centre at Thane to strengthen its technology and designing capacities. The company has acquired a 120-acre plot for the purpose and the project, with an investment of Rs 300 crore, is expected to be operational by 1999.
The centre is being designed by Charles Correa. M&M managing director Anand Mahindra said, The centre will be a hard-core product development one. It will house the facilities for the companys farm equipment, automotive and software divisions.
We will relocate all engineering staff from Nashik to the R&D centre in Thane, he added.The tractor and the automotive divisions of the company will share the common equipment and infrastructure. The centre will also house a test track.
The project is is to be funded through internal accruals.
The centre will instill a set mind frame amongst the staff, Mahindra said.
We are looking at a facility which will attract the best of talent from India as well as abroad.
We wish to achieve intellectual economies of scale, Mahindra said. Our R&D teams have been touring many of the major R&D centres in the world to collate their experiences, and we wish to design a campus with an active product development centre, he added.