Has invested 1700 crores rupees in EV business in India
It is known that Mahindra and Mahindra has already opened an electric technology plant in Bangalore (Bangalore). It produces battery packs, mater and power electronics. At the same time, the company has also invested in setting up a new manufacturing unit at the Chakan plant near Pune city in Maharashtra.
New Delhi. Electric cars in India (Electric vehicle) Looking at the future, the country’s leading automobile company Mahindra and Mahindra Ltd is also going to make big bets in it. According to the information, Mahindra is going to invest 3000 crore rupees in the electric vehicle business in the next three years. The company also aims to sell five lakh electric cars by the year 2025. Mahindra Group Managing Director (MD) and Chief Executive Officer (CEO) Anish Shah has given information about this. They have said that we are going to invest 3000 crores rupees in the field of electric vehicles, this investment will be in addition to that which we had announced earlier. It is known that Mahindra & Mahindra had earlier said that it will invest Rs 9000 crores in the next five years in the automobile and agriculture sectors. The company has set a target of launching 5 lakh electric vehicles on Indian roads by 2025 and has invested Rs 1700 crores in the EV business in India. Apart from this, 500 crores have been invested in the new R&D center.
The company’s plant is in Bangalore
It is known that Mahindra and Mahindra has already opened an electric technology plant in Bangalore (Bangalore). It produces battery packs, mater and power electronics. At the same time, the company has also invested in setting up a new manufacturing unit at the Chakan plant near Pune city in Maharashtra. Recently, Shah said that the investment amount will be used in the development of new platform and other related works. Various models of the group will be produced through the platform.
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Mahindra is also partnering
Shah said that the company will also consider partnership for electric vehicles. He said that the coming time is of electric vehicles only. We already have an alliance, we have signed a memorandum of understanding with the Israeli company REE (Automotive). This is for spatter trucks and commercial vehicles. And we will also have other partnerships in the field of EV.