Mahindra To Develop More EVs, Increase Production
The carmaker already has two electric passenger vehicles in its portfolio and it showcased two upcoming ones at the Auto Expo 2018
Mahindra will soon invest Rs 500 crore in its Chakan plant for product development and capacity enhancement of EVs and related components. The carmaker already has two electric passenger vehicles in its portfolio and had showcased the new eKUV100 at the Auto Expo 2018, which will be launched later this year. Apart from the eKUV100, Mahindra has also revealed its plans to launch another electric vehicle by 2019. The other electric car could be the e2o Plus facelift which was showcased at the Auto Expo. Read more about the e2o NXT (facelift) here.
This announcement of additional investment comes just a few days after the Maharashtra government announced its Electric Vehicle Policy. The new policy states that no road tax will be levied for registering electric vehicles in the state of Maharashtra. In order to promote EVs, the Government will also provide electricity to charging stations at lower rates. Read more about the policy here.
Speaking on the occasion, Pawan Goenka, MD, Mahindra & Mahindra Ltd., said, "We are delighted to announce the next phase of our Electric Vehicles expansion plan at Chakan and would like to thank the Government of Maharashtra for its new EV Policy which is a proactive step in electric mobility.”
Mahindra & Mahindra has pioneered EV development in India. In fact, it was the first mover in the EV space in India in 2013 when it launched its first electric vehicle, the e2o. However, the segment has been at the forefront, given the Government’s push for cleaner mobility and Mahindra will soon be joined by other carmakers like Hyundai, Tata, Toyota and Maruti Suzuki in the EV space in India.