India’s Mahindra Doubles Down On Electric Vehicles With New Factory

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Mahindra’s Electric Mobility group is taking a leap into electric vehicles with the inauguration of its first Electric Technology Manufacturing Hub in Karnataka, India. The new facility is a tangible step forward in support of Mahindra’s Future of Mobility vision of providing Clean, Connected & Convenient vehicles for customers.

The facility will produce Mahindra’s first electric 3-wheelers, the Treo and Treo Yaari, under Mahindra’s +ME (Mahindra Electric) brand. The new 3-wheelers will start at Rs. 1.36 lakhs, including FAME subsidy (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles). Mahindra will also manufacture battery packs, power electronics, and motor assemblies at the new factory, which will increase the total output from +ME to 25,000 units per year.

Mahindra built the new factory with support from the state Government of Karnataka, which came out in force for the inauguration of the new facility. The new facility represents a Rs. 100 crore | US$14 million investment by Mahindra and represents a step into electrification for the company.

“As the pioneers of electric mobility in India, Mahindra is poised to be at the forefront of the electric vehicle revolution while spearheading the endeavor through its range of clean mobility solutions,” Dr. Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd and Chairman Mahindra Electric said. “The manufacturing hub inaugurated today is the next step by Mahindra in the Electric Technology space to increase local value addition and bring affordable EV technology to redefine mobility in India.”

The new hub and factory is a sign that $19 billion Mahindra does see a future that is electric for its vehicle division, and that in India, the revolution is being led by 2- and 3-wheel electric vehicles. They are better suited for India’s crowded urban centers and their smaller size means they can be built for much more consumer-friendly prices.

“At Mahindra Electric, our aim is to bring about a monumental change in the way India moves by enabling more EV products on the road through our +ME technology solutions,” Mahesh Babu, CEO Mahindra Electric said. “Reiterating our strong faith in EVs we have now invested in technologies that are core to EVs and have set up manufacturing of battery packs, motors, power electronics etc. in our new facility at Bengaluru. The government of Karnataka has been extremely supportive of this initiative.”

Mahindra’s Treo 3-wheelers are built around a lithium-ion battery pack that Mahindra says will require no maintenance while enabling 170 km per charge. The fully electric Treo and the Treo Yaari will feature smoother rides and no noxious tailpipe emissions compared to gas-burning 3-wheelers.

At launch, the vehicles will be available in a handful of select dealerships in Bengaluru (Bangalore), the capital of Karnataka state in India and Hyderabad. Mahindra has plans to expand the availability of the vehicles to other cites after the initial rush of the launch.

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Source: Mahindra via Electric & Hybrid Vehicle Technology International | Image credit: Mahindra

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Kyle Field

I'm a tech geek passionately in search of actionable ways to reduce the negative impact my life has on the planet, save money and reduce stress. Live intentionally, make conscious decisions, love more, act responsibly, play. The more you know, the less you need. As an activist investor, Kyle owns long term holdings in Tesla, Lightning eMotors, Arcimoto, and SolarEdge.

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