Mahindra & Mahindra (M&M) is planning to make an investment of Rs 1500 crore at its Nasik and Igatpuri plants in Maharashtra. The project constitutes development and manufacture of its new product codenamed U321, covering joint investment at Nasik and Igatpuri. The investment in the Nasik plant will be towards manufacture of vehicles, while investment in the Igatpuri plant will be for manufacture and supply of engines. The projects will qualify as 'Ultra Mega Project'.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.