Mahindra is all set to become the first Indian carmaker to open a vehicle manufacturing plant in Detroit, US. The carmaker has gathered $1.5 billion and expects to generate $2.5 billion revenue from the facility.
Also, Mahindra will hire 3,000 employees for its new vehicle manufacturing plant in the US.
In an interview with ET in New York, Anand Mahindra, the Mahindra Group Chairman said, "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 could also take a call on final approvals for its electric sports car launch, made under the Pininfarina brand, owned by Tech Mahindra. The Indian carmaker will launch the electric Peugeot scooters in the meanwhile in Europe shortly.
With Donald Trump's policies in regards to the automotive industry being criticised, Mahindra does have its aims set high. With a strong determination to double the investment, Mahindra has taken a leap that could have other Indian carmakers soon following.