In accordance with the state’s industrial promotion programme for EVs, Mahindra & Mahindra (M&M) announced that the Maharashtra government has approved its proposal to establish a Rs 10,000 crore electric vehicle plant in Pune.
According to a statement from M&M Ltd, the two parties signed an agreement to this effect on Wednesday at the World Economic Forum in Davos.
The business will invest this money through a subsidiary over the course of 7-8 years to set up a facility for the development and production of its forthcoming Born Electric Vehicles (BEVs), said M&M Ltd.
These models, which are based on the INGLO EV Platform, will feature the e-SUVs sold under the historic brand XUV with the copper Twin Peak insignia and the all-new electric-only brand known as “BE.”
Some of these BEVs were showcased last August in Oxfordshire, UK.
