Mahindra & Mahindra Ltd is all set to make an investment of Rs. 3000 crore on its electric vehicles business in the next three years, according to the top company official. The company already starts its electronic technologies plant in Bengaluru with the goal of putting 5 lakh electric vehicles on Indian Roads by 2025, for which it invests 1,700 crores with another 500 crores on a new research and development centre in India.
Mahindra Group Managing Director and CEO Anish Shah told, for EVs we are going to invest Rs. 3000 crore additional and it will be utilised on various activities, including developing a new platform that can roll out multiple models. EVs are the future of India and now due to swappable batteries charging is not an issue.
