Mumbai, Jun 2: Commercial vehicle manufacturer Mahindra Navistar today said it has rolled out its 5,000th truck.
“This is a landmark day for us as we have achieved an important milestone with 5,000 trucks rolled out from our Chakan plant,” Mahindra Navistar Automotives Managing Director Nalin Mehta said.
The company had first rolled out Mahindra Navistar trucks in 2010. The firm is a joint venture between domestic auto major Mahindra & Mahindra and Navistar of the US.
The Mahindra Group had formed a joint venture with US-based International Truck & Engine Corp, the operating company of Navistar, to manufacture light, medium and heavy commercial vehicles for domestic sales as well as exports. Currently, 600 trucks are rolled out a month in single shift at the company's plant at Chakan in Pune.
The joint venture is aiming to sell 40,000-50,000 trucks annually over the next three-four years, Mehta said adding as part of the export plan, the company is currently testing its trucks in South Africa.
“We hope to commence the exports within two years.” Of the planned Rs 1,050-crore investment, the company has already spent Rs 740 crore and the remaining funds would be utilised over the next 2-3 years, he said.