Mumbai-based Mahindra, a major producer of cars and trucks in India and South Korea, announced a week ago that it has taken “its first step” toward entering the American auto market — by opening up an assembly plant in Detroit. (Mahindra already has a design and engineering center in Troy, half an hour north of the City.)
The New York Times covered the story, noting that, while this will be the Detroit area’s first vehicle assembly plant in 25 years, “the region is still a prime source of engineering talent and manufacturing know-how, as well as a technology incubator for electric cars and self-driving systems.”
And that’s why Mahindra chose to invest $230 million in the new factory in Detroit’s northern suburbs.
“How many people told Elon Musk, ‘You don’t have any hope of getting into the car business?'” asked Mahindra chairman Anand G. Mahindra. And, he added:
We have a responsibility to contribute to the resurgence of Detroit. That means jobs, and that means investment.
Peter Corrado
AuthorRelated Posts
Single Family or Multifamily Real Estate Investing: What’s right for you?
For those considering, and those already deeply involved in real estate investing, the question of which is a better option;...
1031 Exchange and What it Means For Real Estate Investing
What is Section 1031? Whenever you have a gain on the sale of a real estate investment property, you generally have to pay tax...