There are many automotive companies in India, but what makes Mahindra really special is that it has a lot of experience, fame, and it continuously innovates and never gives up, getting better and better after each iteration. The brand image of Mahindra is second to none, especially its SUVs. However, Mahindra knows that it needs to innovate and level up and move with the times to be relevant, just like every other company. Mahindra also knows that EVs are the future and it needs to mass-produce EVs, so it is doing something big to deal with the situation.
Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today 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 approx. 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., 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 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.”