Mahindra & Mahindra (M&M) expects electric vehicle (EV) production at its upcoming plant in Chakan, Maharashtra to reach a peak production mark of two lakh units per annum between 2027 and 2029. As per the company’s estimates, EVs would account for 30 percent of the overall volumes by 2030.

In January, 2023, the automobile major received an approval from the Maharashtra government to set up a Rs 10,000-crore EV plant in Chakan near Pune.The investment will spread over a period of seven to eight years for the facility, along with development and production of its upcoming ‘Born Electric’ (BE) models. The first product under the BE range is expected to be in the market by the end of next year.

Mahindra Electric Automobiles (MEAL),  the company’s four-wheeler passenger EVs arm, has unveiled ‘Vision Thar.e’, an all-new electric version of the iconic SUV.  Earlier this month, Singapore's sovereign investment firm Temasek announced a Rs 1,200 crore investment in MEAL.