Mahindra & Mahindra Ltd. unveiled its first mid-sized truck under the brand Furio at its Pune plant today.
The automaker will launch 21 models under this intermediate commercial vehicle segment in the next couple of years. “With the progressive launch of the range of trucks, we'll have products from 0.5-49 tonne,” Vinod Sahay, chief executive officer of Mahindra Truck and Bus Division, said. “This will make us a significant player in the commercial vehicle industry.”
The company has invested Rs 600 crore to develop the trucks that will help it plug the gap in its existing product range. The new products will address the 6-16 tonne segment—buyers who cater to vegetable transport, e-commerce deliveries, auto-parts shipments and similar businesses.
M&M had spent four years developing the range in which nearly 500 transporters were also involved, Sahay said.
“We're looking at gaining around 5 percent market share in the intermediate commercial vehicle segment in the next two years,” Rajan Wadhera, president-automotive sector, M&M, said.
The company will launch a few models under the brand within the next two months, though it didn't specify how many. M&M intends to release at least six truck models before the year-end, the company said. At least seven models will meet the Bharat Stage-IV emissions norms, while the rest will meet BS-VI. The BS-IV range will eventually be upgraded to BS-VI standards.
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