Mahindra & Mahindra recently announced investment ¥Rs 10,000 crore investment in electric vehicles has been approved under the Maharashtra government’s Electric Vehicle Industry Promotion Programme. The approval extends to the company’s new electric vehicle manufacturing plant to be built in Pune, Maharashtra, where the automaker plans to build its upcoming Born Electric Vehicles (BEVs).
Commenting on the announcement, Rajesh Jejurikar, Executive Director, Automotive and Farm Sector, Mahindra & Mahindra said, “We are delighted that the Maharashtra government has approved the establishment of our EV manufacturing plant in Pune and is investing in the already established factory. .Our ‘home’ state for over 70 years. We are very grateful to the government. Maharashtra for its continued support. The government’s focus on ‘ease of doing business’ and progressive policies, coupled with Mahindra’s investment, will Be a catalyst for Maharashtra to become India’s EV hub, attracting more Indian and FDI.”
Also read: Mahindra to open new EV manufacturing plant in Pune, invest in ¥10,000 million
Mahindra will invest ¥10,000 million will be used to develop new series of BEVs within seven to eight years. The new EV series will be based on the INGLO EV platform and will produce electric SUVs under the XUV brand as well as a new stand-alone electric sub-brand “BE”.
First published date: Jan 19, 2023 at 16:18 PM CST