Mahindra Signs MOUs With Govt Of Maharashtra For Electric Vehicle Manufacture And Deployment
Mahindra & Mahindra Limited, a part of the US $19 billion Mahindra Group signed two Memoranda of Understanding (MoU) with the Government of Maharashtra (GoM), to further its next phase of expansion in electric vehicles (EVs) and achieve its vision of becoming completely electric ready. This is in line with the government’s pursuit for rapid adoption of EVs for private use as well as public (shared mobility).
The MoUs were signed by Chief Secretary and Additional Chief Secretary, Industries on behalf of the Government of Maharashtra and Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. in the presence of the Honourable Chief Minister of Maharashtra, Shri Devendra Fadnavis, Union Minister Dr. Harsh Vardhan, Mr. Anand Mahindra, Chairman, Mahindra Group and other dignitaries. The joint declarations have been signed to further the Government’s vision to make Maharashtra a globally competitive state for EVs and component manufacture and to maximize the adoption of EVs in the state.
Under the aegis of the first MoU, the company will make efforts to become fully electric ready by further investing in its Chakan plant for the manufacture of EVs, e-motor, controller, battery pack and other electric vehicle components for multiple mobility applications related to battery pack assembly of EVs. As part of this expansion plan, the company will invest an additional Rs. 500 crore. The second MoU underlines the intent to explore a strategic alliance to enable Mahindra to deploy EVs across key cities in Maharashtra. Towards this, both the company and the Government will work closely with various fleet partners, taxi aggregators, logistics companies, amongst others to deploy 1,000 electric cars over the next 1 year.