Mahindra To Build EV Plant In Pune; Signs MoU With Maharashtra Government At World Economic Forum

Mahindra & Mahindra has announced that it will be setting up a new electric vehicle manufacturing facility in Pune, Maharashtra. The company has signed a Memorandum of understanding (MoU) with Maharashtra Government at the World Economic Forum, which took place in Davos, Switzerland. People present at the signing included Rajesh Jejurikar, Executive Director, Mahindra & Mahindra Eknath Shinde, Chief Minister of Maharashtra, Anish Shah, MD & CEO of Mahindra Group and Uday Samant, Minister of Industries, Govt. of Maharashtra.

Also Read: Mahindra XUV400 EV Launched In India; Prices Start From Rs 15.99 Lakh

The new plant will produce Mahindra’s upcoming Born Electric Vehicles (BEVs)

The carmaker has said that it will be spending around Rs. 10,000 crore to build EVs in the state, and the investment has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles. The funds will be spent 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 15, 2022.

Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra 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 EV hub, attracting further Indian and Foreign Direct Investment.”

Also read: Review: Mahindra XUV400 Electric Compact SUV

The Mahindra XUV400 electric SUV (based on XUV300) was recently launched in India, priced from Rs. 15.99 lakh (ex-showroom, India).

Mahindra working on a strong EV offensive for the Indian market, under the company will launch a host of electric vehicles over the next 7-8 years. These will include both - electrified versions of existing internal combustion engine or ICE models and EVs that have been built from the ground up. The first of the new EVs, the Mahindra XUV400 electric SUV (based on XUV300) was recently launched in India, priced from Rs. 15.99 lakh (ex-showroom, India).

Later this year, the company is also expected to introduce its first BEV model as well. Based on the company’s INGLO EV Platform, these will include e-SUVs that will come under the XUV brand name and will feature Mahindra’s Twin Peak logo in copper. The cars will be sold under an all-new electric-only brand called ‘BE’.