Indian automotive manufacturer, Mahindra & Mahindra Ltd. (M&M Ltd.), announced that their investment of Rs 10,000 Crore for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.
As per reports, the company, through its subsidiary, will make investments of approximately Rs 10,000 crore over a period of 7-8 years for setting up the manufacturing facility, development, and production of Mahindra’s upcoming Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15, 2022.
Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd, stated, “We are delighted with this approval from the government of Maharashtra for setting up our EV Manufacturing Plant in Pune, and investing in what has been our ‘home’ state for over 70 years. We are very thankful to the State government for their continued support.”
“The 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 (FDI),” he said.
Recently, Mahindra took the wraps off its first electric vehicle, XUV400 on the eve of World EV Day.
Operating in the C-segment SUV category, the XUV400 is 4200 mm long and has a wheelbase of 2600 mm. It also offers a boot space of 378 litres/418 litres (up to roof). At 1821 mm, it is claimed to be the widest e-SUV in the category – offering plenty of shoulder space for occupants.
As far as the performance of the XUV400 is concerned, it claims to attain the 100 kmph mark from standstill in 8.3 seconds and goes on to reach a top speed of 150 kmph.