Mahindra Group recently announced its plan to invest Rs 900 crore in areas of electric vehicles over the next four years which would increase the manufacturing by 5000 vehicles per month, as expected by the manufacturers. Mahindra has already invested Rs 600 crores in electric vehicles over the last five-six years and is now looking forward to doing more. Mahindra is likely to invest 400 crores in Karnataka and 500 crores in Maharashtra. All this money would be used in building the technology, expansion of production capabilities to support the vision of electric mobility for Mahindra.
On Saturday, the car manufacturer partnered with Bhagirathi group to drive 50 electric vehicles in Bangalore which would be including the Mahindra’s e-Verito.
At present, Mahindra rolls 400 electric vehicles, and if the plan works as anticipated this numbers will increase to 1500 and by December it is expected to roll out 4000 units. The current plan aims at manufacturing 5000 units a month based on certain investment plans and some assumptions.
The company would be manufacturing most of the parts itself, except for the batteries since they require more time and skilled labor so the batteries will be imported. At this time the demand for electric vehicles is as low as 300 vehicles per month which is expected to increase with changing time and technology.
The government wants to be all-electric by 2030 which the manufacturer termed as way too ambitious and the people needed time to get along with so much, however, all Mahindra wants to lead the trend by starting ahead and set the tone with a lot of products in the market.
The company believes that if they achieve even 30 percent of what they have planned by 2030, it would be a great achievement. For now, the EV’s contribute only 0.04 percent of the car market now. The lack of charging stations is said to be one of the biggest obstruction in the way of EV’s on the roads. If this problem is solved then the public transports like buses, Ola, Uber etc. would be the first ones to adopt the electric vehicles.
EVs are a good opportunity in terms of increasing air pollution, and various advantages, one of them including zero fuel requirements. The company needs to grow on such basis to provide the hassle free environment to everybody.