Mahindra Launches Two Development Test Facilities With Rs 300-Crore Investment
Mahindra and Mahindra Ltd. unveiled two development test facilities—Passive Safety Lab and Advanced Cell Research Laboratory & Battery Proto Build Shop with an investment of over Rs 300 crores, as per a release issued on Wednesday.
The labs were launched to test the safety of sports utility vehicles products at various load cases and for research on cell technologies, it added.
The labs were inaugurated by TRB Rajaa, the minister for industries, investment promotion and commerce of the Tamil Nadu government, and Velusamy R, the president of automotive technology and product development at M&M.
The Passive Safety Lab or PSL "can perform with Bharat New car assessment program along with Australian & European New Car Assessment Program", the company said.
On other hand, the Battery & Cell Research Lab will focus on research and analysis of battery cells, modules and packs "aiming to achieve enhanced energy efficiency, performance, lower charging time and longevity", it added.
The opening of the lab is a prominent step in the company's foray into clean mobility solutions, M&M said, adding that the lab is geared for destructive and non-destructive cell related tests to be conducted in-house.
The labs are at a close proximity of 55 km from the Mahindra Research Valley where all the Mahindra SUVs are developed from scratch.
"These labs will complement Mahindra Research Valley where our products are engineered and Mahindra SUV Proving Track, where cars are tested in variety of terrains and simulations, making it one of the most unique places to develop vehicles that are proudly conceived and built in India,” Velusamy R. said.
Shares of Mahindra & Mahindra Ltd. closed 3.22% lower at Rs 2,793.50 apiece on the NSE, compared to a 0.15% lower in the benchmark Nifty 50.
Out of the 41 analysts tracking the company, 36 have a 'buy' rating on the stock, four suggest a 'hold' and one recommend a 'sell', according to Bloomberg data.
The average of 12-month analysts' consensus price targets implies a potential upside of 19%.
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