Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) will make an additional investment of Rs 500 crore at its Chakan plant in Maharashtra to expand electric vehicles (EV) portfolio. In this regard, the company has inked two pacts with the state government.

The company has earmarked a total outlay of Rs 900 crore for EV vertical. Apart from Rs 500 crore investment in Maharashtra, it also plans to put in another Rs 400 crore in its other plants across the country.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.