The ten-year-old partnership between Mahindra & Mahindra and Ideal Group, Sri Lanka, that has seen more than 75,000 Mahindra vehicles ply on Sri Lankan roads, was strengthened further as the first locally assembled compact SUV - the Mahindra KUV100 rolled out of the island nation’s first passenger car assembly plant in Welipenna, near Colombo.
Christened Mahindra Ideal Lanka Private Limited, the
Rs 90 crore joint venture will manufacture and assemble several passenger vehicles over the next two years and provide employment to more than 200 people. This
10+ acre assembly plant with an installed yearly capacity of up to 5,000 units will also help Mahindra maintain a competitive product pricing in line with their competitors.
Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd., said, “Sri Lanka is a key strategic market for us and we are now fully equipped to deliver products customized to local needs, on time.