Mahindra & Mahindra Ltd.
BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3128.35
44.85 (1.45%) M&M planning to accelerate launch of electric vehicles
Date: 05-03-2019Mahindra & Mahindra (M&M) is planning to accelerate launch of electric vehicles (EVs) in the wake of government clearing a Rs 10,000 crore programme under the FAME-II scheme.
The company has set up an electric technology manufacturing hub in Bengaluru with an investment of Rs 100 crore and is also expanding its Chakan (Pune) plant at an investment of Rs 450 crore to enhance its EV portfolio.
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.