M&M to Invest 10 billion in Telangana to make electric three- and four-wheelers.

• ByStartup Story Team     |    February 11, 2023

Auto maker Mahindra and Mahindra expects its first electric vehicle to roll out from its manufacturing plant in Zaheerabad, Telangana by 2024, a senior executive of the firm said. The investment will be made over eight years at the company’s plant to develop its last mile mobility business, such as cargo and passenger vehicles.

The proposed expansion would mainly be towards setting up the manufacturing facility including development and production of electric two- and four-wheelers related to ‘last-mile mobility’ business. 

The company has signed an agreement(MOU) with the Telangana government for approvals to expand the plant.

Considering the size of the proposed investment, it is expected to fall under the ‘Mega Projects’ category of the EV Investment Policy of the government for various incentives. 

 Rajesh Jejurikar, Executive Director, M&M Ltd said the new plant which will come in the existing facility will be up and running in two years.

“It will be for both new product development and new plant for the electric vehicles. E-autos and e Jeeto (will be made in the plant). The commercial production will start in three to five years. Whatever are the products which we are able to convert into e-vehicles, (we will convert it). Let’s say Jeeto may come by next year or so,” Jejurikar said.  Jeeto is a range of mini trucks designed to serve specific needs like delivering cargo.  

Jejurikar also mentioned that by 2027, M&M expects that 20 to 30 percent of its SUV sales would be electric.  

Mahindra has stepped up investments to bolster its EV capacity as the Indian government aims to increase the share of electric vehicles by the end of this decade.

In December, the company unveiled plans to invest 100 billion rupees to set up an EV manufacturing plant near the western city of Pune, taking on rival Tata Motors Ltd which dominates India’s EV market.

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