Mahindra & Mahindra Wednesday announced it would invest Rs 10,000 crore over seven to eight years for setting up a plant to manufacture electric vehicles in Pune. A press statement said the plant would come up under the Maharashtra government’s scheme for promotion of EVs.
The company, through its subsidiary, will make investments of approximately Rs 10,000 crore for setting up the manufacturing facility, development, and production of Mahindra’s upcoming born electric vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15, 2022, the statement said.
“Based on the state-of-the-art INGLO EV Platform, these include the e-SUVs under the iconic brand – XUV with the Twin Peak logo in copper and the all-new electric-only brand called ‘BE’,” it added.
Rajesh Jejurikar, executive director, auto & farm sectors, Mahindra & Mahindra Ltd, stated, “We are delighted with this approval from the government of Maharashtra for setting up our EV manufacturing plant in Pune, and investing in what has been our ‘home’ state for over 70 years. We are very thankful to the government of Maharashtra for their continued support. The government’s focus on ‘ease-of-doing-business’ and progressive policies, together with Mahindra’s investment, will act as a catalyst for Maharashtra to become India’s EV hub, attracting further Indian and foreign direct investment.”
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