Mahindra to open new EV facility in Pune with Rs. 10,000 Crore Investment

Mahindra & Mahindra announced that investment in EV cars has been approved by Maharashtra Government. M&M plans to invest Rs. 10,000 Crore for the Pune facility.

Highlights

1. Mahindra announced their cooperation with Maha Government for EV investment.
2. Rs. 10,000 Crore to be invested in the facility in Pune by Mahindra
3. Rajesh Jejurikar said, "happy with this clearance".

Mahindra to invest Rs. 10,000 Crore for Pune EV Facility

Mahindra & Mahindra has stated that their investments in electric cars have been approved under the Maharashtra Government's industrial promotion plan.

The corporation would invest roughly INR 10,000 crore in the facility in Pune through its subsidiary over a period of 7-8 years. "We are happy with this clearance from the Government of Maharashtra for building up our EV facility in Pune," said Rajesh Jejurikar, Executive Director, of the Auto & Farm Sectors.

The facility will be the home of M&M's future Born Electric Vehicles, some of which were displayed in Oxfordshire, UK, in August of this year.

These include e-SUVs under the historic brand XUV with the twin peak emblem in copper and the all-new electric-only brand dubbed 'BEV,' both of which are based on the Inglo EV platform.

M&M has announced collaborations with three EV infrastructure partners, Jio-bp, Statiq, and Charge+Zone, to provide charging options for its forthcoming line.

The business has also opened its own design center of excellence, Mahindra Advanced Design Europe (M.A.D.E), at Banbury, Oxfordshire which would act as the conceptual hotspot for its EV vehicles.

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