Mahindra & Mahindra Ltd, one of India’s leading automotive companies, today announced that their investment of INR 10,000 crore ($1.21 billion) for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for electric vehicles.
The company, through its subsidiary, will invest around INR 10,000 crore over a period of 7-8 years to set up the manufacturing facility, develop, and produce its upcoming Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15, 2022.
The Mahindra Group has committed to being net-zero carbon by 2040, with electric vehicles playing a major role in this endeavor.
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