Mahindra EV unit coming up at Zaheerabad
Involves Rs 1,000-cr investment and will create employment for 800-1,000 people
Hyderabad: Mahindra & Mahindra signed an MoU with the Telangana government for establishing a manufacturing facility, including the development and production of electric three- and four-wheelers, at Zaheerabad. This involves an investment of approximately Rs 1,000 crore and will create employment for 800-1,000 people.
This pertains to its Last Mile Mobility business. The MoU was signed on the sidelines of the announcement of the Telangana Mobility Valley (TMV), India’s first new mobility-focused cluster, during the first edition of the Mobility Next Hyderabad Summit.
“The proposed facility by M&M will greatly contribute to the goal of the Telangana Mobility Valley to accelerate the growth of sustainable mobility in India. Located in Zaheerabad, one of the four Mega EV Manufacturing clusters being developed by the State, it will allow M&M to access infrastructure planned to be created in the mega clusters,” IT and Industries Minister KT Rama Rao said.
Mahindra will collaborate with the State government to lay the roadmap for the development of EVs and energy storage systems manufacturing units in Telangana.
Rajesh Jejurikar, Executive Director (Auto & Farm), Mahindra & Mahindra, thanked Telangana for its long-standing partnership. “We are delighted to consider the expansion of the current manufacturing unit at Zaheerabad for our new EV manufacturing investment. This investment will help continue our leadership position in the electric three-wheeler category,” he said.
Industries Principal Secretary Jayesh Ranjan, Special Secretary (Investment Promotion) Dr E Vishnu Vardhan Reddy and Automotive and EV Sector Director Gopalakrishnan VC were present at the MOU signing, according to a release.
