M&M lines up Rs 1,000 cr for e-ve­hi­cles

India Business Journal - - CORPORATE -

Mahin­dra & Mahin­dra (M&M) is in the process of in­vest­ing Rs 1,000 crore in de­vel­op­ment, pro­duc­tion, re­search and de­vel­op­ment (R&D) of elec­tri­cal ve­hi­cles (e-ve­hi­cles) by 2020. The com­pany has so far in­vested Rs 400 crore for e-ve­hi­cle prod­ucts and tech­nol­ogy de­vel­op­ment. It has set aside Rs 100 crore for Treo, the com­pany's three­wheeler autorickshaws, and Rs 500 crore for set­ting up global au­to­mo­bile R&D cen­tre and pro­duc­tion en­hance­ment in Ben­galuru and Chakan near Pune. The com­pany is plan­ning to split its pro­duc­tion of e-ve­hi­cles

be­tween Ben­galuru and Chakan.

Lanxess to pump Rs 1,250 cr in 5 years Lanxess plans to in­vest Rs 1,250 crore over the next five years to ramp up ca­pac­ity at its ex­ist­ing fa­cil­i­ties in Jha­ga­dia in Gu­jarat and Nagda in Mad­hya Pradesh be­sides

set­ting up a new plant. The fo­cus ar­eas for the in­vest­ment will be chem­i­cal in­ter­me­di­ates, high-per­for­mance plas­tics and wa­ter treat­ment prod­ucts. In the last decade, Lanxess' sales in In­dia have more than dou­bled to Rs 2,608 crore. In the last nine months, its sales were up by 14 per cent. The

In­dian arm of the Ger­man spe­cialty chem­i­cals com­pany has also ex­ported chem­i­cals worth over Rs 750 crore.

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