Mahindra to invest Rs 5 bn in electronic vehicle research, drivetrain plant

Company's cumulative investments in electric mobility will reach Rs 10 billion by 2020, says Managing Director Pawan Goenka.

In anticipation of the growing demand for electric vehicles (EVs) in India, the Mahindra Group is looking to invest Rs5 billion in setting up a global R&D centre for EVs in Bengaluru and a high-voltage electric drivetrain plant in Chakan over the next few months.

At the launch of its electric three-wheeler Treo in Bengaluru on Thursday, Pawan Goenka, managing director at Mahindra and Mahindra, said cumulative investments made by the firm in electric mobility would reach Rs10 billion by 2020. The firm has already invested Rs3 billion in expanding its plant in Bengaluru to produce a peak of 1,000