Chennai: Mahindra & Mahindra has announced that its investment of 10,000 crore for electric vehicles has been approved under the Maharashtra government’s industrial promotion scheme for electric vehicles. In a stock market filing on Wednesday, the company said it would make these investments through its subsidiary and the investments will be spread over a period of seven-eight years. It will go into 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 15 August, 2022. Based on the INGLO EV platform, these include the e-SUVs under the brand XUV and the electric-only brand called BE.
Rajesh Jejurikar, executive director, auto & farm sectors, Mahindra & Mahindra, said, “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.”
