The Maharashtra Government’s industrial promotion scheme for Electric Vehicles has given the green light for Mahindra & Mahindra’s Rs 10,000 crore investment for electric vehicles. The investment is for setting up the manufacturing facility, development, and production of Mahindra’s upcoming Born Electric Vehicles (BEVs).
The company will be making this investment through its subsidiary, Mahindra Electric Mobility and some of the products that are set to be developmd were showcased in Oxfordshire, UK, on August 15, 2022. Based on the Inglo EV Platform, these include the e-SUVs under the XUV brand with the Twin Peak logo in copper and the all-new electric-only brand called ‘BE’. This Inglo platform is a modular electric skateboard equipped with Volkswagen’s MEB components including the electric drivetrain, and the battery system.
Speaking about the investment, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra stated, “We are delighted with this approval from the Govt. of Maharashtra for setting up our EV Manufacturing Plant in Pune, and investing in what has been our ‘home’ state for over 70 years. The (Maharashtra) Government’s focus on ‘ease-of-doing-business’ and progressive policies, together with Mahindra’s investment, will act as a catalyst for Maharashtra to become India’s EV hub, attracting further Indian and Foreign Direct Investment.”
As announced earlier, Mahindra’s electric range will be under two sub-divisions, the XUV.e and BE. The five upcoming EVs include both brands —BE.05, BE.07, BE.09, XUV.e8 and XUV.e9 and are planned between now and 2026.
