Ready for the Future
In a continued effort to Rise to Be Future Ready, Mahindra has announced that their investment of INR 10,000 Crore for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles.
Pune is also home to some of the country's other automakers, including Bajaj Auto Ltd, Hero MotoCorp Ltd and the Indian units of Volkswagen and Mercedes-Benz.
The Born Electric Vision
The company, through its subsidiary, will make investments of approx. INR 10,000 Crore over a period of 7-8 years for setting up the manufacturing facility, development, and production of Mahindra’s upcoming Born Electric Vehicles (BEVs), some of which were showcased in Oxfordshire, UK, on August 15th, 2022.
Based on the state-of-the-art INGLO EV Platform, these include the e-SUVs under the iconic brand - XUV with the Twin Peak logo in copper and the all-new electric-only brand called ‘BE.’
A new chapter
The new BE cars will mark a new chapter in Mahindra's electric mobility plans and will be based on the newly-developed INGLO EV platform. The new EV architecture will spawn a host of future electric SUVs under the BE brand while also bringing new electric SUVs under the 'XUV' brand as well.
Expected growth trajectory of EVs
In India, electric models make up just 1% of the total annual car sales of about 3 million, but the government wants to grow this to 30% by 2030.
The Net-Zero ambition
The Mahindra Group has committed to being Net Zero carbon by 2040, and electric vehicles have a major role to play in this endeavour.
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