• Earlier, Mahindra revealed that it would introduce five new electrified SUVs.
• In September, Mahindra revealed the XUV400.
• Mahindra would make an investment of Rs. 10,000 crore over a 7- to 8-year period.

On Wednesday, Mahindra & Mahindra Limited said that it would spend Rs. 10,000 crore over the following 7-8 years in Pune, Maharashtra, on the production and research of electric vehicles. Mahindra stated in a regulatory filing that the government of Maharashtra's industrial promotion scheme for electric vehicles has approved the investment of Rs. 10,000 crore for electric vehicles. 

The business will invest over Rs. 10,000 crore through its subsidiary over a period of 7-8 years to construct up the manufacturing facility, develop, and produce Mahindra's forthcoming Born Electric Vehicles (BEVs). On August 15, 2022, a number of these BEVs were displayed in Oxfordshire, United Kingdom. These electric SUVs, which will be sold under the new BE electric-only brand and the XUV brand, are based on the INGLO EV platform.

Rajesh Jejurikar, Executive Director of Mahindra for the Auto and Farm Sectors, stated that the government's emphasis on 'ease-of-doing-business' and progressive policies, along with Mahindra's investment, will serve as a catalyst for Maharashtra to become India's EV hub and attract additional Indian and Foreign Direct Investment. For more than 70 years, he claimed, Mahindra called Maharashtra his 'home' state.

Five new electric Sports Utility Vehicles (SUVs) would be introduced by Mahindra in August, with the first four slated to be on sale between 2024 and 2026 for both home and foreign markets. According to Mahindra, the investment has been authorised under the Industrial Promotion Plan for electric vehicles of the Maharashtra government.