Mahindra to invest Rs 100 billion for EV plant in Pune

Mahindra & Mahindra Limited declared that it will invest around Rs 100 billion to set up an electric vehicle (EV) manufacturing facility in Pune. The facility has been approved under the Maharashtra Government’s industrial promotion scheme for EVs. The proposed facility aims to  manufacture, develop, and produce its upcoming Mahindra Born Electric Vehicles.

Recently in November 2022, Emergent Solren, a wholly-owned subsidiary of Mahindra Holdings, was established by Mahindra & Mahindra Limited. Mahindra Holdings has subscribed for 50,000 equity shares in Emergent Solren with a face value of Rs 10 per share. The company will primarily be involved in the production and sale of solar power; generation and distribution of electricity; distributed energy such as rooftop solar installation for the commercial, industrial, institutional, and residential segments; solar water pumps; and other related matters.

Also, in October 2022, Mahindra & Mahindra and Jio-bp, announced the expansion of their existing collaboration. Under this, Jio-bp will establish a charging network for Mahindra’s upcoming e-SUV launches. Also, Jio-bp will install DC fast chargers across Mahindra’s dealership networks and workshops across the country starting off with 16 cities.