Mahindra deploying $1.2 billion for its new EV unit
Mahindra has been a leading player in the EV space and is now readying an
investment of $1.2 billion or approximately ₹ 10,000 crore
This will be used for establishing its EV manufacturing plant near Pune. The
unit will produce the upcoming BEV (Born Electric Vehicles) from the
company
These include the EV option for the XUV700 SUV as well
Mahindra is already talking to investors with a view towards raising $250-
500 million for the new EV unit. The company’s first electric SUV should
launch in January 2023
Learn more about this exciting development in our story here: