Auto giant, Mahindra & Mahindra (M&M), has announced plans to invest INR 1,000 crore in setting up an electric vehicle (EV) manufacturing facility in Telangana.
Indian automaker, Mahindra & Mahindra, invests INR 1,000 crore to establish an electric vehicle manufacturing plant in Telangana. The facility, located at Zaheerabad plant in Medak district, will produce last-mile mobility solutions, including electric three and four-wheelers.
M&M will make the investment, spread over eight years, through the company or a related company, following the signing of a memorandum of understanding (MoU) with the Telangana government. The expansion is expected to create 800-1,000 new jobs at Zaheerabad, where the company already produces tractors.
Industries Minister KT Rama Rao recognizes the contribution of M&M’s investment to Telangana Mobility Valley (TMV), a new initiative aimed at boosting sustainable mobility in India. Zaheerabad’s location, within one of Telangana’s four mega EV manufacturing clusters, offers M&M access to state-of-the-art infrastructure.
Rajesh Jejurikar, Executive Director of Auto & Farm at M&M, expresses excitement about the Zaheerabad expansion, saying it will solidify the company’s position as a leader in the 3-wheeler category of electric vehicles.
M&M and the Telangana government will work together to develop a roadmap for EV and energy storage systems (ESS) manufacturing in the state. The size of the investment makes the EV manufacturing project eligible to be considered a mega project under Telangana’s EV investment policy.
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