Mahindra and Mahindra have signed an agreement with the Telangana government to set up an electric vehicle manufacturing unit in the state. The new facility will be part of Mahindra’s overall investment in the approx. $10,000 cores. The Telangana facility will cost the automaker about $1,000 crore and will be the second such production facility to appear next to the one in Pune, Maharashtra. The Telangana facility will manufacture Mahindra’s electric tricycles, such as the Treo, as well as electric four-wheelers.
According to the agreement signed between the two parties, Mahindra will invest the fund for eight years. The facility will be located at Mahindra’s Zaheerabad facility to grow its last mile transportation business. In a regulatory filing, Mahindra said the facility will also manufacture passenger vehicles such as the XUV400 electric SUV. The deal included Mahindra’s call on the state government to approve the expansion of the existing Zahneerabad plant.
In December last year, Mahindra announced that it would open a new electric vehicle manufacturing facility in Pune, Maharashtra. Automakers will invest $10,000 crore for the new EV facility and the investment has been approved under the Maharashtra Government’s electric vehicle industry promotion plan. Mahindra has ramped up funding to accelerate its electric vehicle plans as it aims to launch 5 more electric vehicles in India in the next few years. Mahindra is now supplying the XUV400 electric SUV, part of a new line of electric vehicles for the country.
Also read: Mahindra opens new EV factory in Pune, will invest $10,000 cores
Earlier in August 2022, Mahindra introduced the new BE brand for electric vehicles 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 create a future range of electric SUVs under the BE brand, while also bringing new electric SUVs under the ‘XUV’ brand.
Watch: Mahindra XUV400: Important things you should know
Mahindra’s recent push for electric scooters is seen as an attempt to compete with the competition tata Motors, the current EV market leader in India with the largest market share. With the Nexon EV, Tiago EV and Tigor EV, Tata Motors leads the four-wheel drive EV segment in India with more than three-quarters of the market share.
First published date: February 10, 2023, 09:58 AM IST
