Mahindra would undertake investments of roughly Rs 10,000 crore over 7-8 years for setting up the manufacturing facility...
Digital Desk: Indian automotive company, Mahindra & Mahindra Ltd. (M&M Ltd.), announced that their investment of Rs 10,000 Crore for electric vehicles has been sanctioned under the Maharashtra Government's industrial development scheme for Electric Vehicles.
According to sources, the business will invest roughly Rs 10,000 crore over a 7-8 year period in putting up the manufacturing facility, research, and production of Mahindra's upcoming Born Electric Vehicles (BEVs), some of which will be shown in Oxfordshire, UK, on August 15, 2022.
"We are happy 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," said Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd. We are grateful to the State government for their ongoing assistance."
"The government's emphasis on 'ease-of-doing-business' and progressive legislation, together with Mahindra's investment, will serve as a catalyst for Maharashtra to become India's EV centre, drawing additional Indian and Foreign Direct Investment (FDI)," he said.
On the eve of World EV Day, Mahindra unveiled its first electric vehicle, the XUV400.
The XUV400 falls within the C-segment SUV class and measures 4200 mm in length with a 2600 mm wheelbase. Additionally, it has a boot space of 378 or 418 litres. It is advertised as being the widest e-SUV in its class at 1821 mm, giving occupants ample shoulder room.
According to claims made about the XUV400's capabilities, it can reach 100 kmph from a complete stop in 8.3 seconds and can go as fast as 150 kmph.
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