Mahindra & Mahindra is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses, a top company official said on Friday. The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical under its Project K2 by 2024-25. Addressing reporters in a virtual earnings call conference, Mahindra Group Managing Director and CEO Anish Shah said out of the Rs 17,000 crore planned to be deployed in the next three years, capital expenditure is at Rs 12,000 crore.
Japan-headquartered Mitsubishi Mahindra Agricultural Machinery (MAM) appointed Toru Saito as President and CEO of the company.
MAM is a strategic investment in Japan. It is a Centre of Excellence (CoE) for the rice value chain and plays a key role in establishing Mahindra as a global player in the area of tractor and farm implements.
Speaking about the announcement, Rajesh Jejurikar, Executive Director, Mahindra and Mahindra, Director and Chairman of the Board of Directors of Mitsubishi Mahindra Agricultural Machinery said, âOur endeavour is to bring on board top global talent to support our ambitious growth plans. We have implemented several initiatives at MAM, which is at an exciting inflection point. Mr Saito brings with him global cross-functional experience and I am sure under his leadership MAM will continue its transformative journey and meet the commitments of profitable growthâ.
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