Mahindra and Mahindra has already set up base in Sri Lanka where it sells a large range of tractors and utility vehicles since the past one decade. Now the company intends to start selling new models in the country to augment its presence in the Sri Lankan market. "In keeping with our long term plans for this region, we are soon going to enhance our current product portfolio in the market with the launch of several new products, including the Maxximo, a technologically modern sub 1 tonne pickup and HCVs (Heavy Commercial Vehicles)," said Anand Mahindra, Group's Vice Chairman and Managing Director.
Mahindra has already acquired stake in Reva Electric and is developing its electric cars for the future market and plans to sell the same in the neighbouring country too. Apart from developing its passenger car division, M&M intends to enter the motorcycle segment by the end of this year.
"We have achieved a milestone by selling one lakh scooters in just 10 months as against a set target of 18 months. Our plan now is to enter the motor-cycle market by end-this year," said Anoop Mathus, Mahindra Two-Wheelers' President. M&M acquired Italy based Engines Engineering in 2008 and now the Italian motorcycle designing firm is developing a new design for the Indian market.
