According to the latest reports, Mahindra & Mahindra (M&M) has announced the establishment of the Last Mile Mobility Electric Vehicle manufacturing facility at a cost of Rs 1K crore in Zaheerabad.
As an expansion of its existing manufacturing operations, M&M joined hands with the government of Telangana by entering into a memorandum of understanding (MoU) with it.
It took place on the sidelines of the first Mobility Next Hyderabad Summit, during the announcement of Telangana Mobility Valley (TMV), India’s first new mobility-focused cluster.
The MoU mentions the development and production of three and four-wheeler electric vehicles for M&M’s Last Mile Mobility business.
The proposed investment will generate an additional 800-1,000 jobs in Zaheerabad, where the company has been manufacturing tractors since 2013.
This union will come up with a road map for the manufacturing of electric vehicles and energy storage systems in the state.
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According to the Mahindra group, given the size of the investment, the EV manufacturing project is expected to fall under the mega projects category under the Telangana government’s EV investment policy.
The Telangana government announced the latest investment to drive into the recently announced Telangana Mobility Valley, stating that Mahindra & Mahindra will collaborate with the state in laying out the roadmap for the development of EV and energy storage systems (ESS) manufacturing units in Telangana.
“The proposed facility by M&M will greatly contribute to the goal of TMV to further accelerate the growth of sustainable mobility in India. The location at Zaheerabad, one of the four 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,” read the statement by the state government.
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