Mahindra & Mahindra (M&M), who is participating at the ‘Make in India Week’ which commenced on February 13, 2016 in Mumbai, has said that its latest product, the KUV100, is a strong reflection of the 'Make in India’ theme.
Pravin Shah, chief executive - automotive sector, Mahindra & Mahindra said, "Around 97-98 percent of components and technologies in the KUV100 are developed in India. What better certification of a Make in India product than that?"
The KUV100 was launched on January 15 with an aggressive entry price tag of Rs 4.96 lakh. The car is available in both petrol and diesel engines and comes with a five- and a six-seater configuration. Demand for the product has been on the rise, with waiting periods now stretching to as much as two months in select markets.
In addition to this, Mahindra is working towards becoming a global player. Its recent acquisitions of Korean OEM SsangYong, France's Peugeot Motorcycles and iconic Italian design firm Pininfarina reflect the manufacturer's ambitions. Mahindra has also invested heavily on R&D, with the company recording a total investment of Rs 7,100 crore (US$ 1.1 billion) in the last 10 years.
The 'Make in India' story also extends to its vendors who are MSMEs. M&M sources components worth Rs 1,800 crore annually from the relatively small component manufacturers.