Mahindra & Mahindra Ltd on Saturday expanded its global footprint with the inauguration of a local automotive assembly plant at Welipenna near Colombo in Sri Lanka.
Christened Mahindra Ideal Lanka Pvt Ltd, the assembly plant has been set up in collaboration with Ideal Motors of Sri Lanka. The plant spread across 10 acres rolled out its first product, the compact sport utility vehicle KUV100, and will roll out a slew of products over the next three years. The knock-down kit (CKD) assembly plant was inaugurated in the presence of Sri Lankan Prime Minister Ranil Wickremesinghe, his Cabinet Minister Malik Samarawickrama, Indian High Commissioner to Sri Lanka Taranjit Singh Sandhu, M&M Managing Director Pawan Goenka, M&M Chief of International Operations Arvind Mathew and others.
“Inauguration of this automotive assembly plant is a significant milestone for Mahindra’s foray into the Sri Lanka market,” said Goenka.
“Sri Lanka is a key strategic market for us and we are now fully equipped to deliver products customised to local needs on time. This new assembly plant will not only add to industrial growth in the country but will also generate significant employment opportunities at our plant and at supplier’s end,” he said in a statement.
Mahindra Ideal Lanka will assemble KUV100 with a production capacity of 5,000 units per year. The joint venture company will localise four components — batteries, tyres, seats and exhausts.
The plant is expected to provide employment to 200 people directly and indirectly over the next two years. (The Dispatch)
Lanka patriot Saturday, 17 August 2019 09:39 PM
How many Sri Lankan Politicians would have benefitted from financial bribe to allow an Indian company to have a a major engineering foothold in Sri Lanka ? Shame on you Politicians and Shame on you Sri Lankan qualified engineers who are not involved in anything important in Sri Lanka.
Peri Saturday, 17 August 2019 11:10 PM
Why do you have a negative view Lanka Patriot. Look at Singapore and learn. This is a joint venture ,over 90% will be Sri Lankan employees, to start with some Sri Lankan components will be used and also this is an opportunity to advance Sri Lankan know how over a period of time. You need foreign investment to develop the economy, as an island you need to be outward looking and facilitate foreign investment ,many other countries in the region are also competing for foreign investment. Lanka Patriot learn to walk before you can run.
Roshan Sunday, 18 August 2019 09:03 AM
Agree. We need to look at things positively instead of looking at everything from a political perspective
Kevin Sunday, 18 August 2019 09:08 AM
Welcome to Sri Lanka.
Jude Sunday, 18 August 2019 10:56 AM
This could be a good omen !!!
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