Mahindra Looking to Set Up Auto Production Site Outside India
- Corporate team working on potential location for vehicle plant
- Project is part of globalization strategy, auto unit head says
Mahindra & Mahindra Ltd. XUV 500 sport-utility vehicles move along a conveyor on the production line at the company's facility in Chakan, Maharashtra, India, on Sept. 12, 2014.
Photographer: Udit Kulshrestha/BloombergMahindra Group, the $18 billion Indian conglomerate with businesses from the country’s largest SUV maker to farm equipment to financial services, is looking to set up a car plant abroad as it builds up operations beyond its increasingly competitive home market.
“As part of our globalization strategy, we feel that we should have a base outside India,” said Pravin Shah, head of automotive operations at the flagship Mahindra & Mahindra Ltd. tractor and sport utility vehicle division, said Wednesday. A team is working on the potential overseas location and will finalize it shortly, he said at a briefing in Mumbai, without elaborating on the plan or its time frame.