Mahindra to invest Rs 10,000 crore to open EV plant in Pune

Keeping an eye on the tough competition in the electronic vehicle market all the big brands (car manufacturers) have stepped into the business and race to be at the top of the list for most units (cars) selling companies. While the race is going on, Tata and Mahindra these two names are giving neck-to-neck competition to each other in the market. As of now, Tata is the only name that is gripping the EV market but now it seems like Mahindra is likely to take over Tata motors. According to the reports, Mahindra is investing Rs 10,000 Crore to open a new EV plant in Pune.

However, recently, Tata motors sold more than 35k units of their Tata Nexon EV and shared this information through Twitter. Meanwhile, Mahindra took that tweet on them and replied, and the latest news shocked the market. According to this, Mahindra has decided to invest a total amount of Rs 10k Crore as the brand is now perhaps going all electric with its upcoming cars. According to an online report, Mahindra showcased a total of 9 EV models in Oxfordshire, UK. The brand is already working on the XUV400 and planning to launch eight more EV models by the end of 2026.

Mahindra Investment For EV Plant In Pune

India’s leading SUV manufacturer Mahindra recently came up with big news where the brand revealed its new plan, under which Mahindra is soon setting up an EV manufacturing plant in Pune. According to online news, the company has confirmed about their investment’s approval under the Maharashtra government’s industrial promotion scheme for electric vehicles. The brand has promised to launch a total of 8 more electric cars by the end of 2026.

As the brand showcased its line of EVs, a total of 5 upcoming cars (electric) will be made at the plant that Mahindra is opening soon in Pune. In the line of products, Mahindra has not opened up about its all models but as per the speculations, the confirmed models’ list includes the all-electric XUV700 as XUV e8 and some new Born Electric models too.

Mahindra’s EV Plant

At the event, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd., in his statement said “We are overwhelmed with the approval and grateful to the Govt. of Maharashtra, for setting up our EV manufacturing plant in Pune and funding in what has been our home state for 70 years. We are elated to the Maharashtra govt for their continued support”.

The line of products will be based on Mahindra’s INGLO EV platform and it will include e-SUVs under the iconic brand XUV with the same twin peak logo in copper, along with the brand’s official logo there would be another logo (speculated) called ‘BE’. However, what ‘BE’ stands for is yet to be announced by the brand. Heading towards the end of the year no doubt Mahindra got a reason to jump in the air as they got the approval finally. So, now it is going to be interesting to see if the plan lives up to expectations. Stay tuned with us to get more updates on the automobile industry.