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

Mahindra and Mahindra, one of the country’s largest auto companies, plans to invest Rs 1 billion in a plant in Telangana to manufacture electric three- and four-wheelers. The company said that this investment will be made in eight years. In addition to passenger vehicles, cargo vehicles will also be manufactured at this plant.

The company said in a regulatory filing that it has signed an agreement with the state government for the expansion of its Zaheerabad plant in the Medak district of Telangana. Mahindra said that in terms of the amount of this proposed investment, it may fall under the Telangana government’s EV investment policy in mega projects. In December last year, the company had announced an investment of around Rs 10,000 crore to set up an electric vehicle manufacturing plant near Pune in Maharashtra. This will help Mahindra to compete with Tata Motors, which has the largest share of the electric vehicle market.

Mahindra’s XUV400 electric SUV has received more than 10,000 reservations. The reservation for this started from the 26th of January. The company had said it will take about seven months to deliver these orders. This is the company’s first all-electric SUV. Mahindra had previously said that it plans to deliver 20,000 units in a year. Its starting price is Rs 15.99 lakh (ex-showroom). It is available in two variants.

Its price rises to Rs 18.99 (ex-showroom). Its launch prices were applicable to the first 5,000 reservations received by the company. Its delivery can begin from March. It will compete with Tata Nexon EV, Hyundai Kona EV and MG ZS EV. It will launch in five colors: Arcing Blue, Everest White, Galaxy Grey, Nepali Black, and Infinity Blue. There will also be a two-tone option of satin copper. The company claims that the XUV400 has the fastest acceleration capability in the non-luxury segment. Mahindra & Mahindra says it can go from 0 to 100 km/h in just 8.3 seconds. Its maximum speed is 150 km/h. It has three driving modes, Fun Fast and Fearless.
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