Mahindra & Mahindra to set up Rs.1,000-cr EV manufacturing facility at Zaheerabad
The Government of Telangana signed an MoU with Mahindra & Mahindra Ltd for establishing a manufacturing facility
HYDERABAD: Automobile giant Mahindra & Mahindra Limited will be setting up last mile mobility electric vehicle manufacturing facility as part of expansion of its existing manufacturing facilities at Zaheerabad. The company is investigating Rs.1,000 crore in the new
EV manufacturing facility and will provide employment to 1,000 people.
The Government of Telangana signed an MoU with Mahindra & Mahindra Ltd for establishing a manufacturing facility, including development and production of electric three and four-wheelers EVs, pertaining to its Last Mile Mobility business, on the sidelines of the announcement of Telangana Mobility Valley (TMV), India’s first new mobility-focused cluster, at the first edition of Mobility Next Hyderabad Summit.
The state-of-the-art facility from M&M, together with its group companies, is an expansion of their existing factory in Zaheerabad, and involves an investment of approximately Rs.1,000 crores, creating employment to about 800 -1000 persons.
Mahindra & Mahindra Limited will collaborate with Government of Telangana to lay down the roadmap for development of EV and
energy storage systems manufacturing units in the State.
Industries Minister KT Rama Rao welcomed the investment from M&M and said, "The proposed facility by M&M will greatly contribute to the goal of Telangana Mobility Valley to further accelerate the growth of sustainable mobility in India. Location at Zaheerabad, one of the four mega EV Manufacturing clusters being developed by the State, will allow M&M to access state-of-the-art infrastructure planned to be created by the State in the Mega Clusters” the Minister said.
Rajesh Jejurikar, Executive Director (Auto & Farm), Mahindra & Mahindra, thanked the Government of Telangana for their long-standing partnership and said: “We are delighted to consider expansion of the current manufacturing unit at Zaheerabad for our new EV Manufacturing investment. This investment will help continue our leadership position in electric 3-Wheeler category.”