Mahindra & Mahindra had signed an agreement with the Telangana government for its expansion plans at Zaheerabad, a manufacturing plant in Medak. The expansion will be completed over eight years by either the company or one of its group companies.
It will be used for new product development as well as new plants for electric vehicles. The plant will produce electric autos as well as e Jeeto. In three to five years, commercial production will begin. We will convert any product that we can convert into electric vehicles.
Jejurikar stated that Jeeto could be available by next year. Jeeto is a line of mini trucks that are specifically designed for specific tasks, such as delivering cargo.
Jejurikar said that M&M anticipates 20-30% of its SUV sales to be electric by 2027. He said that M&M already has 100 acres of land at its existing facility and does not require any additional land from the government.
He stated that the construction of the new facility for production will begin in about two to three months. The expansion proposed would be primarily used to set up the manufacturing facility, including the development and production of electric two- and three-wheelers for the ‘last mile mobility’ business.
The MoU allows for assistance by the Telangana government to help the company obtain the necessary approvals for its expansion. Given the amount of the investment proposed, it will likely fall under the EV Investment Policy category of the government for various incentives.