Mahindra has announced an INR 10,000 crore investment for their upcoming electric vehicle plant. This new EV manufacturing facility has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles. This facility will come up on the outskirts of Pune.
More details about the EV plant
The investment totaling INR 10,000 crore will be made through the Mahindra’s subsidiary. Over the next 7-8 years the investment will be used for setting up the manufacturing unit, development and production of Mahindra’s upcoming Born Electric Vehicles. Few of these were showcased at Oxfordshire, UK on 15th August 2022.
These vehicles would be based on the INGLO EV platform and will spawn multiple body styles like the e-SUVs amongst others. These vehicles would be adorned with the twin-peak logo in copper colour and the new electric-only ‘BE’ brand. The SUVs would come under the XUV branding.
On the occasion of the announcement, Rajesh Jejurikar, Executive Director at Auto & Farm Sectors, Mahindra & Mahindra Ltd. said that the company was pleased with the approval of the Government of Maharashtra for setting up the EV manufacturing plant in Pune. Mahindra considers Maharashtra as its home state and is thankful to the government for its continued support. Mahindra visualizes Maharashtra to become India’s EV hub thanks to this investment which will further attract Indian and Foreign Direct Investment.
About Mahindra
The Mahindra Group was founded back in 1945. It is one of the largest and most respected companies in the country with over 2,60,000 employees and present in over 100 countries. The Mahindra branded vehicles range from farm equipment, utility vehicles, passenger vehicles, to trucks and buses. The Group also offers information and financial technology services in India. By volume, Mahindra is the world’s largest tractor manufacturer. It also has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.
Also Read – Mahindra Scorpio-N scores 5-Star in Global NCAP crash test.
