Mahindra Signs An Agreements With Telangana Government To Roll Out Electric Vehicle Next Year
Mahindra Signs An Agreements With Telangana Government To Roll Out Electric Vehicle Next Year

Mahindra Signs An Agreements With Telangana Government To Roll Out Electric Vehicle Next Year

February 11, 2023

Automobile maker Mahindra & Mahindra Ltd, will establish an electric vehicle manufacturing facility as an expansion of its existing manufacturing plant at Zaheerabad, in Medak district, Telangana. 

Alongside the first edition of Mobility Next Hyderabad Summit, Mahindra & Mahindra Ltd, and the Telangana Government signed an MOU to establish an electric vehicle manufacturing facility in the State on Thursday. The government said the facility involves an investment of about Rs 1,000 crores, creating employment for about 800-1,000 persons.

The company stated, “The proposed expansion would mainly be towards setting up of manufacturing facility including development and production of electric 3 and 4 wheelers pertaining to Last Mile Mobility business at the current plant situated at Zaheerabad.”

Mahindra & Mahindra Ltd, will collaborate with the Telangana Government to enlarge the manufacturing units, for development of electric vehicles and energy storage systems, in the state.

The automaker also said that the estimated investment in the proposed expansion will be around Rupees 1,000 crore over eight years at the Zaheerabad plant to develop its last-mile mobility business, such as cargo and passenger vehicles.

Considering the size of the proposed investment, it is expected to fall under the “Mega Projects” category under the “EV Investment Policy” of the Telangana government, Mahindra said.

Executive Director (Auto and Farm) of M&M Rajesh Jejurikar, thanking the Telangana Government for its long-standing partnership, said “we are delighted to consider expansion of the current manufacturing unit at Zaheerabad for our new EV Manufacturing investment. This investment will help continue our leadership position in the electric 3-wheeler category.”

“It will be for both new product development and a new plant for electric vehicles. E-autos and e Jeeto (will be made in the plant). Commercial production will start in three to five years. Whatever products we can convert into e-vehicles, (we will convert them). Let’s say Jeeto may come by next year or so,” Jejurikar said. Jeeto is a range of mini trucks designed to meet specific needs like cargo delivery. 

In response to a query, Jejurikar stated that M&M anticipates 20–30% of its SUV sales to be electric by 2027.

In response to another question, he said M&M has about 100 acres of land available at the current facility, so the company does not need any land from the government.

Industries Minister K. T. Rama Rao welcomed the investment from Mahindra & Mahindra. He stated that the proposed facility by Mahindra & Mahindra. will greatly contribute to the Telangana Mobility Valley initiative to further accelerate the growth of sustainable mobility in India. Zaheerabad is one of the four mega EV manufacturing clusters being developed by the State and Mahindra  would thus have access to state-of-the-art infrastructure planned to be created by the State in such mega clusters, he said.

Mahindra has stepped up investments to bolster its EV capacity as the government plans to increase the share of electric vehicles by the end of this decade. To compete with Tata Motors Ltd, which dominates the majority of the Indian EV market, the company announced plans to invest 100 billion rupees to build an EV manufacturing plant close to the western city of Pune in December.

The post Mahindra Signs An Agreements With Telangana Government To Roll Out Electric Vehicle Next Year appeared first on Promoting Eco Friendly Travel.

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