Mahindra To Invest Rs. 10,000 Crore In EVs; Will Set Up A New Plant In Pune
- Mahindra will invest up to Rs. 10,000 crore in EVs
- Will set up a new EV plant in Pune, Maharashtra
- Mahindra's new range of EVs will have the brand name 'BE'
Mahindra and Mahindra announced that it will invest up to Rs. 10,000 crore for electric vehicles and the same has been approved by Maharashtra Government’s industrial promotion scheme for EVs. The investment will be made over a period of seven to eight years and this includes setting up a new EV-only development and manufacturing facility in Pune, Maharashtra. Few of the upcoming Born electric vehicles (BEVs) were also showcased earlier in August year, at an event in Oxfordshire, UK.
Also Read: Mahindra XUV400 Electric Compact SUV Review
Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd., stated, “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: Mahindra Looking To Raise Rs. 4,000 Crore For EV Push
Based on the state-of-the-art INGLO EV Platform, these include the e-SUVs under the ‘XUV’ brand with the Twin Peak logo in copper and the all-new electric-only brand, which will be called ‘BE’, short for ‘Born Electric’.
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