HYDERABAD: Mahindra & Mahindra (M&M) has announced plans to establish a Last Mile Mobility Electric Vehicle manufacturing facility in Zaheerabad as an expansion of its existing manufacturing operations.
The Government of Telangana signed a memorandum of understanding (MoU) with M&M on the sidelines of the first edition of Mobility Next Hyderabad Summit during the announcement of Telangana Mobility Valley (TMV), India’s first new mobility-focused cluster.
The MoU covers the development and production of three and four-wheeler electric vehicles for M&M’s Last Mile Mobility business. This state-of-the-art facility, which will be operated by M&M and its group companies, the Mahindra Group, is expected to involve an investment of approximately 1,000 crore Rupees and create employment for 800 to 1000 individuals. M&M will work with the Government of Telangana to develop a roadmap for the manufacturing of electric vehicles and energy storage systems in the state.
Minister KT Rama Rao stated, “The proposed facility by M&M will greatly contribute to the goal of Telangana Mobility Valley and further accelerate the growth of sustainable mobility in India. Its location in Zaheerabad, one of the four Mega EV Manufacturing clusters being developed by the state, will allow M&M to access the state-of-the-art infrastructure being created by the state in the Mega Clusters.”