Mahindra to set up an electric car factory in Telangana
Pubnews: Mahindra to set up an electric car factory in Telangana. Mahindra & Mahindra will set up an electric vehicle plant in Telangana state after Pune in Maharashtra. The company, already known for SUVs, has signed an agreement with the state government in this regard. The manufacturing facility will be set up as part of the company’s overall investment of Rs 10,000 crore. According to company sources, Rs 1,000 crore is required to set up a new factory in Telangana
Mahindra’s new plant in Telangana will manufacture battery-powered autos like the Treo as well as four-wheeler electric passenger cars. As per the terms of the agreement, Mahindra will invest Rs 1,000 crore in the state over eight years. Their new production unit will be set up next to the Zahirabad factory.
Mahindra said the plant will produce electric vehicles like the XUV400. The Telangana government has approved Mahindra’s application to expand its Zahirabad plant. In December last year, Mahindra announced that it will set up a new electric car factory in Pune, Maharashtra.
Incidentally, the Maharashtra government has approved an investment application of Rs 10,000 crore to set up a factory in Pune. which has been recognized under the Industrial Promotion Scheme of the Government of Maharashtra. Mahindra has stepped up investment to launch as many as five electric vehicles over the next few years Currently, their only electric SUV is the XUV400.