Mahindra & Mahindra to invest $33 mn in trucks and buses,new products

Mahindra plans to invest another 3 billion rupees to explore new products.

Written by PTI | Mumbai | Published: August 14, 2013 2:47 pm

Mahindra & Mahindra Ltd ,India’s biggest utility vehicle manufacturer,plans to invest 2 billion rupees ($32.74 million) to strengthen its current product line-up of trucks and buses,the company said in a statement on Wednesday.

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Mahindra plans to invest another 3 billion rupees to explore new products,it said.

On Tuesday,the company posted a forecast-beating 29 percent rise in first-quarter profit,as strong demand for its tractors compensated for falling sales of its sport utility vehicles.

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