HEDERABAD: Auto major Mahindra & Mahindra is investing Rs 1,000 crore in setting up a facility for manufacturing electric vehicles for last mile mobility as an expansion project at its Zaheerabad plant in Telangana’s Medak district where it already manufactures tractors.
The investment, which will see the company churn out electric three and four wheelers, will be made over a period of eight years by the company or a group company, M&M said on Thursday after inking a memorandum of understanding (MoU) with the Telangana government.
The proposed investment will create an additional 800-1,000 jobs at Zaheerabad, where the company has already been manufacturing tractors since 2013.
