- Investment of Rs 10,000 crore approved under Maharashtra Government’s industrial promotion scheme
- Mahindra to invest over a period of seven-eight years
Indian utility vehicle manufacturer, Mahindra has announced its plans to set up an EV manufacturing plant in Pune, Maharashtra. The company claims that an investment of Rs 10,000 crore for electric vehicles (EVs) has been approved under Maharashtra Government’s industrial promotion scheme for EVs.
Mahindra’s investment plan will span over a period of seven-eight years to set up a manufacturing facility, development, and production of Mahindra’s upcoming Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on 15 August, 2022. The e-SUVs will be based on the INGLO EV platform, under the iconic XUV brand with the Twin Peak logo in copper and the new electric-only brand called the ‘BE’.
Commenting on the occasion, Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra and 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.”
