Mahindra & Mahindra to open manufacturing unit in the US; first Indian car company to do so

Mahindra & Mahindra is all set to open an auto manufacturing plant in world’s auto capital-Detroit-this year, becoming the first Indian car maker to do so in the US.

M&M has raked in $1.5 billion in the US and is expecting to generate $2.5 billion revenue and double the figures in next two-three years.

The automaker also plans to hire 3,000 people for its US greenfield auto manufacturing plant.

"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,” Group Chairman Anand Mahindra told ET in an interview in New York.

M&M may also take a final call on approving the global launch of luxury electric sports cars along the lines of Tesla Inc. under the Turin-based Pininfarina brand, which is the Italian design and engineering house majority-owned by Tech Mahindra.

"I believe America will be one of the most rewarding places to invest. Trump's policies on immigration which have been criticised will play out with negative consequences almost five-ten years later but it doesn't take away the attractiveness of America,” Mahindra told ET, adding “We are talking about doubling our $1.5 billion bet over the next two-three years.”

Meanwhile, Mahindra will also launch electric Peugeot Scooters in Europe in the near future.