Mahindra & Mahindra has announced that its proposed investment of Rs 10,000 Crore for development of electric vehicles has received approval under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles. The company will invest approx. Rs 10,000 Crore over a period of 7-8 years for setting up the manufacturing facility in Pune.
Also Read: New Mahindra Electric Platform INGLO Explained in 8 Points
Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd., stated, “We are delighted with this approval from the Govt. 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 Govt. of Maharashtra for their continued support.”
The new factory in Pune will be responsible for the development and production of Mahindra’s upcoming range of Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15th, 2022. The brand will introduce five all-new electric vehicles in the next 3 years in a phased-wise manner.
The new Mahindra EVs will be based on the state-of-the-art INGLO EV Platform while they will be introduced under the iconic brand – XUV with the Twin Peak logo in copper and the all-new electric-only brand called ‘BE’.
“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,” added Jejurikar.
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