Mahindra to invest Rs 4.5k cr for growth of two new electric brands

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Mahindra to invest Rs 4.5k cr for growth of two new electric brands - Business Standard

Quick Summary:

Mahindra & Mahindra has committed Rs 4,500 crore on the overall development, including the creation of production capacity, for the two new ground-up electric brands, a top company executive said on Wednesday.

The Mumbai-based auto major is creating production of capacity of 90,000 units per annum at its Chakan-based plant for the two ground-up 'Born Electric' models -- BE 6e and XEV 9e.

The investment would go into the overall development of the electric vehicles," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here.