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Mahindra Electric to invest additional Rs 400 crore at K’taka plant

Business News, State, (New Delhi), February 17:-Mahindra Electric, a part of diversified Mahindra group, on Friday said it plans to invest additional Rs 400 crore at its Karnataka facility over the next five years to ramp up capacity as well as set up testing infrastructure for batteries.

The company has already invested Rs 600 crore in the facility since 2010.

“We plan to invest Rs 400 crore in Karnataka over the next five years to increase capacity to 20,000 units per annum,” Mahindra Electric Chief Executive Officer (CEO) Mahesh Babu said.

He said that the capital would be deployed to upgrade skill development at the companys facility near Bengaluru. The plant currently has a manufacturing capacity to roll out 5,000 units per annum.

The facility rolls out E20 plus as well as electric kits which get installed at Mahindra vehicles at companys other facilities as well. Mahindra also manufactures other electric models like E-Verito and E-Supro.

Karnataka government is initiating an electric mobility awareness campaign in the state from February 17. Mahindra would start with deliveries of e-Verito cars to Bengaluru-based fleet operator Baghirathi Travel Solutions in order to commemorate the event.

Mahindra had earlier received an order to supply 1,000 e-Verito cars from the fleet operator. It is the biggest order that the company has so far received in the EV space with value exceeding Rs 100 crore.

-(NAV, Inputs: Agencies)

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