M&M draws up plan for Russia, Malaysia foray

Utility vehicle major Mahindra & Mahindra on Thursday said it was planning to set up CKD (completely knocked down) assembly units in Russia and Malaysia.

The president of the company's automotive division, Pawan Goenka, said M&M had already tied up with local partners in the two countries.

Goenka said the M&M would have majority stake in these ventures. "In any such joint venture we go for outside the country, we will always have a majority stake," he said.

Goenka said the company would close the financial year with sales of around 34,000 units of Scorpio. "This will be 20 per cent more than the previous financial year," he added.

The company unveiled a concept hybrid variant of the Scorpio and a hydrogen-powered Alfa three-wheeler at the Auto Expo today. The two prototypes were among the first in their categories to be developed in India, the company said.

Mahindra also showcased eight other concept vehicles -- Mahindra Legend, Scorpio Passion, Bolero Inspira, Scorpio CEO, Scorpio Lifestyle (doublecab), Bolero Commando, Bijlee (zero-emission vehicle) and a Scorpio technology vehicle.

"The vehicles on display demonstrate M&M's efforts to become a global cult brand in the next five years and be known as an environment-friendly company," M&M's Vice-Chairman and Managing Director Anand Mahindra said.

He said futuristic hybrids and fuel cell technology were an important component of the company's growth strategy.