Mahindra to open new EV manufacturing plant in Pune, will invest ₹10,000 crore
- Mahindra will be making the ₹10,000 crore investment through its subsidiary over a period of 7-8 years, which will be utilised towards the building the production facility, development and manufacturing of Born Electric Vehicles.
Mahindra & Mahindra has announced that the automaker will be opening a new manufacturing facility for electric vehicles in Pune, Maharashtra. The automaker will be investing ₹10,000 crore for the new EV facility, and the investment has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.
Speaking about the announcement, 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. 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."
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The automaker unveiled its new ‘BE’ brand for EVs on August 15 this year in Oxfordshire, UK. The new BE cars mark a new chapter in Mahindra’s electric mobility plans and will be based on the newly-developed INGLO EV platform. The new EV architecture will spawn a host of future electric SUVs under the BE brand, while also bringing new electric SUVs under the ‘XUV’ brand as well.
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