India’s leading companies M&M Mahindra and Mahindra announced their investment of 1,000 Core($138 Million) in order to produce Electric vehicles in the Zaheerabad plant in Medak District.
M&M plans to produce electric 2-wheeler and 3-Wheelers, also cargo and passenger EVs, with investment, spread over 8 years.
Mahindra already signed an agreement memorandum of understanding (MoU) with Telangana Government for approval to enlarge the Zaheerabad plant in Medak, the company doesn’t share the exact size of the manufacturing facility but it expects to fall under the “Mega category”.
This is the 2nd investment Mahindra does in the EV sector, last year In December, M&M announced investing ₹10,000 crores in its new manufacturing plant in Pune, now Mahindra is to invest 1,000 Crore in order to expand the Zaheerabad plant.
Total investment of Mahindra
- 10,000 Crore in its Pune plant.
- 1,000 Crore in its Zaheerabad plant.