Mahindra will soon launch several electric vehicles.
Mahindra has opened its electric technology plant in Bangalore, which produces battery packs, power electronics and motors, as well as the company has also invested in the new manufacturing unit of its Chakan plant for production of EVs.
Anish Shah, MD and CEO of Mahindra Group, who recently took over as the managing director and chief executive, said, “We are going to invest ₹ 3,000 crore for EVS.” This investment will be used on various activities, including developing a new EV platform that can build multiple models by combining the various capabilities of groups.
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Shah said that ‘We are going to have a partnership for the electric platform in India. There is a lot of capability in our group and for EVs we will focus on partnerships because EV is the future in the future. We have entered into an agreement with REE (Automotive) which is an Israeli company. It is for small trucks and commercial vehicles.Also read: TVS XL 100 brought home on a down payment of Rs 7,999, will be surprised to know the price
Asked whether the company’s technology will be technology-based or equity-based, Shah said that it is too early to say anything but further processing is underway, but the company has opened its doors to all such possibilities.