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Mahindra & Mahindra to set up Rs. 1,000 cr worth EV manufacturing facility in Zaheerabad

Mahindra & Mahindra Limited (‘M&M’) to set up Last Mile Mobility Electric Vehicle manufacturing facility as expansion of its existing manufacturing facilities at Zaheerabad, Telangana.

The Government of Telangana signed an MoU with Mahindra & Mahindra Ltd for establishing a manufacturing facility, including development and production of electric 3 and 4 wheelers, pertaining to its Last Mile Mobility business, on the side lines 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 (“Mahindra Group”), 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 Electric vehicle and Energy Storage Systems manufacturing units in the State.

Shri KT Rama Rao, Minister for IT E&C, MA&UD and Industries & Commerce, welcomed the investment from M&M and stated “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 4 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 added.

Rajesh Jejurikar, Executive Director (Auto & Farm), Mahindra & Mahindra, thanked the Government of Telangana for their long-standing partnership and stated “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.”

Principal Secretary (Industries and Commerce and IT E&C) Mr. Jayesh Ranjan IAS, Special Secretary (Investment Promotion) and Mr. Gopalakrishnan VC, Director Automotive and EV Sector were also present at the MOU signing.

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