Auto major Mahindra & Mahindra (M&M) on Friday said it plans to invest Rs 1,500 crore at its Nashik and Igatpuri plants, along with ongoing expansion of Rs 4,500 crore at Chakan facility in Maharashtra for the next phase of expansion.
“We are investing Rs 1,500 crore at our Nashik and Igatpuri plants, which will help us in expanding our production capacity by 50,000 vehicles to 2,00,000 vehicles. The Nashik projects will qualify as ‘Ultra Mega Project’ and it will be funded through internal accruals,” M&M managing director Pawan Goenka told reporters here.