Schedule a Call Back
M&M to invest Rs 10,000 crore in EV manufacturing plant in Pune
Industry News- Dec 15,22
The company, through its subsidiary, will make investments of approximately 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).
Mumbai
Mahindra & Mahindra Ltd (M&M), one of India’s leading automotive companies, will invest Rs 10,000 crore for setting up an electric vehicles manufacturing plant in Pune. The plant has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.
The company, through its subsidiary, will make investments of approximately 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 15, 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 Government 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.”
Related Stories
Auto & Auto Components
Bharat Forge Q2FY25 results
BFL group's defence business posted revenue of Rs 5.09 billion in Q2 registering a jump of 67% YoY.
Read moreOther Industrial Products
Elgi Equipments releases Q4 FY24-25 results
The company, on a consolidated basis posted a PAT of Rs 947 million for the quarter, compared to a PAT of Rs 913 million in the same period in 2023-2024, representing a growth of 4%.
Read moreAuto & Auto Components
o9 and Valeo to drive digital transformation with seven year partnership
This partnership between o9 and Valeo is the result of Valeo’s effort to consistently improve its operations for better competitiveness and enhanced service to its customers.
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
