Mahindra and Mahindra is set to open its maiden greenfield auto manufacturing plant in Detroit this fiscal year--the first Indian car company that will have one in the country--to make off-road utility vehicles as the $19 billion conglomerate looks to double its bets in one of the world’s most important markets, said group chairman Anand Mahindra.
The group has deployed $1.5 billion in the US to generate $2.5 billion revenue, employing 3,000 people. The plan is to double all three figures over the next two-three years.
“We are looking at opening (the plant) this year. That's a major milestone where an Indian automotive company is opening up manufacturing in a resurgent Detroit. I think that's a wonderful twist of history,” Mahindra told ET in an interview in New York on Saturday.