The total investment Mahindra planned is Rs. 900 crore and apart from the Rs. 500 crore for Chakan plant, Rs. 400 crore will be invested on other plants in the country
Mahindra is one of the manufacturers which are at the forefront of EV race in India. The company has already said that the country don’t need new EV policy instead everybody should work together to make it happen. Now the company is planning to invest Rs. 500 crore at the Chakan plant as part of the expansion and to manufacturer EVs at the plant.
The company will manufacturer not only EVs but along with other components like e-motor, controller, battery pack and other vehicle components. The total investment Mahindra planned is Rs. 900 crore and apart from the Rs. 500 crore for Chakan plant, Rs. 400 crore will be invested on other plants in the country to make it future ready to manufacturer EVs.
Mahindra has also signed a MoU with Maharashtra government to promote EVs as they will work with fleet operators, taxi operators and logistic companies and others to deploy more than 1000 electric cars over the next one year. This is a significant step taken by the government as people will get to know more about EVs.
One of the reasons why people don’t buy EVs is that they are not confident with the range these vehicles offer. But when they use them daily via fleet operators and taxi’s it will make these cars popular among common people. Mahindra will deploy 25 e2o Plus vehicles on Zoomcar platform in Mumbai which is also part of the MoU.
Mahindra is developing next generation of EV technology and they are working with ecosystem stake holders in both public and private sector to adapt to the electric vehicles. Right now Mahindra is importing parts of EVs from other countries which are expensive and the company want to make these components in India to make them competitive.
The company has asked its technology partners to develop parts like motor controller, power electronics, battery pack and other components in India. Mahindra can also supply these components for other firms and customers who want to purchase it which can make the transformation to EVs easier.