Mahindra & Mahindra is set to open its maiden greenfield auto manufacturing plant in Detroit this fiscal year to make off‑road utility vehicles, according to a recent report in The Economic Times.
The $19 billion conglomerate looks to double its bets in the U.S., said group chairman Anand Mahindra. The group has earmarked a $1.5 billion investment in the US to generate $2.5 billion revenue, the report said. The plan is to double all three figures over the next two‑three years.
“We are looking at opening (the plant) this year. That’s a major milestone where an Indian automotive company is opening up manufacturing in a resurgent Detroit. I think that’s a wonderful twist of history,” Mahindra told ET.
Read the full story here: economictimes.indiatimes.com
