Hyderabad, Feb 9 Automotive major Mahindra & Mahindra Ltd will set up an electric vehicle manufacturing facility as expansion of its existing manufacturing facilities at Zaheerabad in Telangana,
As part of its Last Mile Mobility business, Mahindra & Mahindra will manufacture electric 3 and 4 wheelers at this state-of-the-art facility.
The Telangana government signed an MoU with Mahindra & Mahindra Ltd for establishing a manufacturing facility on the sidelines of the first edition of Mobility Next Hyderabad Summit.
The government said on Thursday that the facility will involve an investment of about Rs.1,000 crores, creating employment for about 800-1,000 persons.
M&M will collaborate with the state government to lay down the roadmap for development of electric vehicle and energy storage systems manufacturing units in the state.
Industries Minister K. T. Rama Rao welcomed the investment from M&M. He stated that 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," he said.
Rajesh Jejurikar, Executive Director (Auto & Farm), Mahindra & Mahindra, thanked the Telangana government for their long-standing partnership. "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," he said.
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