Chennai, April 11 (IANS) Automotive major Mahindra & Mahindra's Rs.650 crore research and development (R&D) centre - Mahindra Research Valley - was formally inaugurated by former president A.P.J. Abdul Kalam here Wednesday.
The Mahindra Research Valley located in Mahindra World City near here would house the engineering research and product development wings for automobiles and tractors.
Speaking at the inaugural function, Anand Mahindra, vice chairman and managing director of the Mahindra group, said: "Innovative product creation and engineering services are the cornerstone of any company with global aspirations and Mahindra Research Valley will function as the crucible for innovation and technology within the Mahindra Group."
According to the company the headcount in the R&D centre would be doubled to 3,000 in the future.
According to Pawan Goenka, president (Automotive and Farm Equipment) at Mahindra & Mahindra, the research centre would provide the group with tangible benefits of indigenous design at lower costs and shortened product development cycles.