In August, M&M revealed that the first four of its five new electric Sports Utility Vehicles (SUVs) would be available for purchase between 2024 and 2026 in both local and international markets.
Digital Desk: Mahindra & Mahindra Ltd. announced on Wednesday that it will spend Rs 10,000 crore over the next 7-8 years in Pune, Maharashtra, on the production and research of electric vehicles. According to M&M in a regulatory filing, the government of Maharashtra's industrial development scheme for electric cars has approved the investment of Rs 10,000 crore in electric vehicles.
According to the statement, "the company, through its subsidiary, will invest over Rs 10,000 crore over 7-8 years to set up the manufacturing plant, develop, and produce Mahindra's next Born Electric Vehicles (BEVs)."
On August 15, 2022, some of these BEVs were displayed in Oxfordshire, United Kingdom.
These electric SUVs, which will be sold under the XUV and the brand-new BE electric-only label, are built on the INGLO EV platform.
The government's emphasis on "ease-of-doing-business" and progressive policies, along with Mahindra's investment, will act as a catalyst for Maharashtra to become India's EV hub, attracting additional Indian and Foreign Direct Investment, according to M&M Executive Director, Auto & Farm Sectors Rajesh Jejurikar.
For over 70 years, he claimed, Maharashtra has served as M&M's "home" state.
The first four of the five new electric Sports Utility Vehicles (SUVs) that M&M announced in August would go on sale between 2024 and 2026 in both domestic and foreign markets.
It revealed the XUV400 in September; it is set to hit the markets in January.
Leave A Comment