Mahindra to invest Rs. 10,000 crore for Electric Vehicle

Mahindra to invest Rs. 10,000 crore for Electric Vehicle

By: ICN Bureau

Last updated : December 15, 2022 8:06 am



The company will make investments over a period of 7-8 years for setting up the manufacturing facility, development, and production of Mahindra’s upcoming Born Electric Vehicles (BEVs)


Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, has announced that their investment of Rs. 10,000 Crore for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.

The company, through its subsidiary, will make investments of approximately Rs. 10,000 Crore over a period of 7-8 years 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 15th, 2022.

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’.

Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd. said, “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 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 EVhub, attracting further Indian and Foreign Direct Investment.”

Mahindra & Mahindra Ltd. Rajesh Jejurikar INGLO EV Platform

First Published : December 15, 2022 12:00 am