India's Mahindra group said it is studying the possibility of introducing its electric vehicle, Mahindra Reva, to the Sri Lankan market and launching new models soon after their launch in India.


Vice chairman Anand Mahindra told a news conference the company was targeting vehicle sales of 10,000 by the 2013 financial year.

The group plans to introduce new models in Sri Lanka soon after they are launched in the Indian market.

Issuing a press release the Mahindra Group says that has already established a base for itself in Sri Lanka where it has been selling its range of tractors and utility vehicles for over a decade.

Accordingly the Group now plans to further consolidate its presence by foraying into the hospitality and finance sectors.

The Vice Chairman and Managing Director of the Mahindra Group, Anand Mahindra says “The Mahindra Group has a long and enduring association with Sri Lanka which is a strategic market for us. As a diversified federation of companies with a presence in several industries, we see immense opportunities for investment in the country. Over the years, our vehicles and tractors have acquired a reputation as fuel efficient, tough and rugged workhorses and we now look forward to expanding our footprint in the emerald isle, as it takes a step towards greater economic progress,”.

Meanwhile the press release further states that Mahindra’s Automotive Sector has sold over 4,000 vehicles in Sri Lanka since its market entry and that it is in fact, the market leader in the plus one tonne pick up category. India’s No. 1 Compact Truck, the Mahindra Gio, which was launched in Sri Lanka a few months back and has evoked a good response.

The press release further states “In keeping with our long term plans for this region, we are soon going to enhance our current product portfolio in the market with the launch of several new products, including the Maxximo, a technologically modern sub 1 tonne pick up and HCVs (Heavy Commercial Vehicles). We are also studying the possibility of introducing an electric car – the Mahindra Reva - in Sri Lanka, in future. Our channel partner for vehicles, M/s Ideal Motors has created a countrywide sales and service network and has also expanded operations in the North and East areas of the country”.

Courtesy: ABC News

Posted on Thursday, August 19, 2010 @ 14:02:08 LKT by Sandun

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