India's largest utility vehicle manufacturer, Mahindra has not been successful enough in the two-wheeler business. The company had to withdraw its Stallio motorcycle due to technical glitches.
Now, aiming to capture market share in one of the largest growing two-wheeler markets in the world, Mahindra is infusing over Rs 500 crore into the two wheeler business for setting up a strong domestic R&D centre. The company has already set up a facility for manufacturing scooters and motorcycles at its plant in Madhya Pradesh with a capacity of 1 million units.
Mlahindra two-wheeler division president Anoop Mathur was quoted as saying: "We have been and will continue to invest in the two wheeler industry. Over the last couple of years we have significantly strengthened our fundamentals like a cutting edge R&D facility and upgraded manufacturing capacity."
Meanwhile, the company will also introduce a range of new models including the rebuilt Stallio and premium motorcycle Mojo in the coming months. Mahindra two wheelers strategy & market development senior VP Viren Popli said the company has already got approval from the board on the future investment and they have a product portfolio plan in place of 10-12 vehicles which will be across categories, as part of its mission statement till 2015-16.