This plan is estimated to cost over Rs 10,000 crore. The plan came out after its rival giant, Tata Motors, got a head start in the EV race by launching EVs such as the Nexon and Tigor.The location chosen for the plant is Pune. Pune has remained a favourite place for many automobile companies, such as Bajaj Auto, Hero Motocorp, and the India divisions of Volkswagon and Mercedez.This plant is projected to be fully established in 7 to 8 years.The government of Maharashtra has approved the plan of Mahindra and Mahindra Ltd. under the state government’s industrial promotion scheme for electric vehicles.
    source: cardekhoThe executive director of the auto division of the firm, Rajesh Jejurikar, said the company is very delighted by the Maharashtra government’s approval of the plan and they are happy to work in their home state of 70 years.Mahindra was in talks about sourcing money from foreign investors worth $250 million to $500 million for its electric vehicle segment in September, as reported by Reuters.India’s electric vehicle market is just 1 percent of the total 3 million-car market. The government wants to grow it to 30 percent by 2030.India’s retail EV market has grown by 185% this year.The plant will manufacture electric vehicles (BEVs) in Pune.Mahindra had committed to being a zero-carbon emissions organisation by 2040, and this move will help them achieve that target.Do you think Mahindra can lead the EV market? Comment below.

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