Mahindra & Mahindra To Invest Rs 900 Cr More in E-Vehicles

By Olga Robert
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Mahindra and Mahindra (M&M) said on Monday that it will invest Rs 900 crore over next four to five years to bring efficient electric vehicles.

    Mahindra & Mahindra To Invest Rs 900 Cr More in E-Vehicles

    "We have already invested Rs 600 crore in EVs over the past five-six years and have decided to invest Rs 400 crore in Karnataka and Rs 500 crore in Maharashtra over the next four-five years.

    This will be used for capacity, technology and products," said Pawan Goenka, managing director, M&M.

    The company plans to expand its current production capacity of 400 electric vehicles per month to 5,000 in the next two years.

    The move is expected to benefit if the government is successful in its strong push for electric vehicles.

    "We are not waiting for any policy to move forward.To be a pioneer, you have to create the road and we have to move forward. But, there is a need for the prevailing subsidies on EVs to continue for longer to ensure the growth of this industry," he said.

    Inputs from PTI.

    Also Read: Bangalore Gets its First Public Electric Vehicle Charging Station

    Read more about: mahindra amp mahindra
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more