Maha Govt allows M&M to set up Rs 10,000 crore EV plants in Pune

20 Jan 2023 , 11:18 AM

On Thursday, Mahindra & Mahindra announced that the Maharashtra government had approved its proposal to build a Rs10,000 crore electric vehicle plant in Pune under the state’s EV industrial promotion scheme.

M&M said in a statement that the two parties signed an agreement to that effect on Wednesday at the World Economic Forum in Davos.

M&M Ltd stated that the company will make this investment through its subsidiary over a period of 7-8 years to set up the manufacturing facility, development, and production of its upcoming Born Electric Vehicles (BEVs).

Based on the INGLO EV Platform, these models will consist of the e-SUVs under the iconic brand XUV with the Twin Peak logo in copper and the all-new electric-only brand called ‘BE’.

According to Rajesh Jejurikar, Executive Director for the auto and farm sector at Mahindra & Mahindra, the company has received this approval from the Maharashtra government for setting up its EV manufacturing plant in Pune, its ‘home’ state for over 70 years.

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