Mahindra & Mahindra invests ₹12,000 crore ($1.4bn) in electric vehicle business over 3 years, plans to manufacture EV batteries in India.

Mahindra & Mahindra, known for its diesel SUVs, will invest ₹12,000 crore ($1.4bn) in its electric vehicle business over the next three years, as it doubles down on cleaner transport. The Indian automaker is also in "active" discussions with a company to manufacture electric vehicle batteries in India. This investment will enable Mahindra to expedite its transition to electric vehicles and catch up with rival Tata Motors, which dominates the market.

May 16, 2024
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