Buoyed by the home market success of its Scorpio SUV, Mahindra & Mahindra is eyeing export opportunities and planning to invest INR5 billion during the next two years to increase capacity and develop new variants.
Mahindra is eyeing the international market and its foray abroad will be helped by cash flow of about INR 13 billion that will be generated over the next two years and $US100 million raised in April from a share issue.
Mahindra has a dominant 54% share of the utility vehicle market in India and its farm tractor division is also doing well.
The company is now pitching the Scorpio to international markets and is meeting with some success – Sri Lanks is expected soon to sign an order for 1,200.
Mahindra is also looking at exporting the Scorpio to European markets like Spain and Italy.
Deepesh Rathore / Tilak Swarup