Mahindra to set up EV plant in Telangana, plans to invest Rs 1,000 crore

Mahindra and Mahindra, one of the country’s largest automobile companies, plans to invest Rs 1,000 crore in a plant in Telangana to manufacture electric three-wheelers and four-wheelers. The company said that this investment will be made in eight years. Apart from passenger vehicles, cargo vehicles will also be made in this plant.

The company said in a regulatory filing that it has entered into an agreement with the state government for expansion of its Zaheerabad plant in Medak district of Telangana. Mahindra said that in terms of the amount of this proposed investment, it can come under the Telangana government’s EV investment policy in mega projects. in december last year company announced an investment of about Rs 10,000 crore in setting up an EV manufacturing plant near Pune in Maharashtra. This will help Mahindra compete with Tata Motors, which has the largest share in the EV market.

Mahindra’s XUV400 electric SUV has received over 10,000 bookings. Booking for this started from 26 January. The company had told that it will take about seven months to deliver these orders. This is the company’s first fully electric SUV. Mahindra had earlier said that it plans to deliver 20,000 units of it in a year. its early worth 15.99 lakh (ex-showroom). It is available in two variants.

Its price goes up to Rs 18.99 (ex-showroom). Its introductory prices were applicable for the first 5,000 bookings received by the company. Its delivery can start from March. It will compete with Tata Nexon EV, Hyundai Kona EV and MG ZS EV. It is being launched in five colors – Arcing Blue, Everest White, Galaxy Grey, Nepalese Black and Infinity Blue. There will also be a dual tone option of Satin Copper. The company claims that the XUV400 has the fastest acceleration capability in the non-luxury segment. Mahindra & Mahindra says that it can reach 0-100 kmph in just 8.3 seconds. Its top speed is 150 kmph. It has three driving modes, Fun Fast and Fearless.