Mahindra & Mahindra (M&M), will be investing INR 1,000 crore for expanding into electric vehicle (EV) manufacturing at its plant in Zaheerabad, Telangana. The investment will spread over eight years. This Zaheerabad plant in Medak district, will manufacture electric three and four-wheelers. At present Zaheerabad plant manufactures tractors.
A memorandum of understanding (MoU) between M&M and the Telangana government was signed recently for this.. The expansion is expected to create 800-1,000 new jobs at Zaheerabad.
The manufacturing facility which is in the Telangana Mobility Valley (TMV), a new initiative aimed at boosting sustainable mobility in India. Zaheerabad is one of Telangana’s four mega EV manufacturing clusters.