Mahindra & Mahindra Ltd. (M&M Ltd.), a leading automotive company in India, announced receiving of approval from the Maharashtra Government‘s industrial promotion scheme for Electric Vehicles for an investment of Rs. 10,000 Crore. This investment will be made over 7–8 years by the company‘s subsidiary to create a manufacturing facility, develop, and produce a range of Mahindra Born Electric Vehicles (BEVs). Some of these vehicles were showcased in Oxfordshire, UK, on August 15th, 2022.
Based on the INGLO EV Platform, these vehicle include e-SUVs under the XUV brand with the Twin Peak logo in copper, and the all-new electric-only brand called ‘BE’.
Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra, 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.”
He asserted that the Government‘s emphasis on ‘ease–of–doing–business‘ and progressive policies, along with Mahindra‘s investment, will be a catalyst that will make Maharashtra India‘s EV hub, thus luring more Indian and Foreign Direct Investment.