The on- going progress of the vehicle assembling joint venture between Sri Lanka’s Ideal Motors and Mahendra Ltd., India, is now showing a significant and steady progress, Mahindra and Mahindra Ltd., Vice President Sanjay Jadhav said.
He said so at a conference held in Mumbi, India, to create an awareness of Sri Lankan media on the current progress of the Sri Lanka – India vehicle assemble joint venture which commenced in August this year.
The vehicle assembling plant is carried out by Ideal Motors Ltd., on behalf of Sri Lanka and Mahendra and Mahendra Ltd., of India.
This vehicle assembling joint venture was ceremonially opened by Prime Minister Ranil Wickremesinghe and Chairman, Mahindra and Mahindra Ltd., Ideal Motors Chairman Naleen Welgama were also present at the occasion.
Vice President Jadav further said that after the April Easter Sunday bomb blast, Sri Lanka’s economy showed a disastrous situation, while the current situation is fast improving and this would highlight that we could now pay more attention towards the strengthening of the on-going vehicle assembling joint venture further.
He further said a certain percentage Mahindra electric vehicles including cars and trucks are now in the Sri Lankan market and expect to increase it further.
“Therefore, we are confident that we would be able to strengthen this vehicle assembling venture with Sri Lanka, which could be strengthened to a greater extent in the years to come.”
Initially, Mahendra KUV 100 would be assembled in Sri Lanka.
Vice President Jadev also said that Sri Lanka’s vehicle assembling plant which is located at Welipanna, has been provided a large number of direct and indirect employment opportunities to Sri Lankan citizens, especially those who are in the rural village of Welipanne.
Jadev also highlighted that Mahendra has also established a strong presence in Sri Lanka with Ideal Motors for auto and Diesel and Motor Engineering Company for tractors.
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