Mahindra & Mahindra to build Rs 10kcr EV manufacturing plant in Pune
Indian automobile manufacturer Mahindra & Mahindra said that it will invest INR 10,000 crores to build an electric vehicle (EV) manufacturing plant in Pune.
The company said that its investment, which will be made over a period of 7-8 years, has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.
Mahindra & Mahindra said that the EV manufacturing facility in Pune will produce the company’s upcoming Born Electric Vehicles (BEVs), some of which were unveiled in Oxfordshire, UK in August 2022.
The BEVs will be based on the INGLO EV platform and will include e-SUVs under the XUV brand with the Twin Peak logo in copper and BE, the company’s all-new electric-only brand.
Rajesh Jejurikar — Mahindra & Mahindra Executive Director of Auto & Farm Sectors 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 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.”