M&M's Telangana plant to roll out its first electric vehicle next year
Auto maker Mahindra and Mahindra expects its first electric vehicle to roll out from its manufacturing plant in Zaheerabad, Telangana by 2024, a senior executive of the firm said on Friday.
Speaking to reporters after announcing the third quarter results for FY2022-23, Rajesh Jejurikar, Executive Director, M&M Ltd said the new plant which will come in the existing facility will be up and running in two years.
M&M on Thursday had said it signed a MoU with Telangana government for its proposed expansion plans at its existing manufacturing facility at Zaheerabad plant in Medak district.
The estimated investment for the proposed expansion is expected to be approximately Rs 1,000 crore to be made over a period of eight years by the company or any of its group companies, the firm said.
"It will be for both new product development and new plant for the electric vehicles. E-autos and e Jeeto (will be made in the plant). The commercial production will start in three to five years. ...