Defying the current slowdown trend, Mahindra Trucks and Buses Ltd (MTBL), part of the $16-billion Mahindra Group, plans to invest ₹300 crore to develop its first intermediate commercial vehicle (ICV), and another ₹200 crore to refurbish existing models.

“We are well-placed in the heavy commercial vehicles segment today, a little behind on the LCV (light commercial vehicles) range”, but are not present in the ICV segment, said Rajan Wadehra, Director, MTBL.

Over the next 18-20 months, the company will invest ₹300 crore to develop a new ICV and ₹200 crore on refurbishing its present range of LCVs, he added.

The new ICV will be a “ground-up” vehicle that will be entirely developed in-house and is expected to be ready in the next 30 months. The aggregates will not take too much time to develop as major components like axles and engine types are already available within the Group.

At the forthcoming Delhi Auto Expo, MTBL will showcase two products that will add to its current HCV range.

The 37-tonne multi-axle truck Truxo 37 will go into production immediately, while the tractor trailer Traco 49, which will be seen in two variants – 210 HP and 260 HP engines – will be launched a little later, said Nalin Mehta, MD and CEO.

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