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| Mahindra electric vehicle |
India's Mahindra announced on Wednesday that it will be setting up a new facility to make battery packs to power e-vehicles. The plant will be located in Pune, Chakan (India) and will increase Mahindra's production of battery packs by 10 times more.
Mahindra is working on new technologies that will lead into production of high powered vehicles with a maximum speed of 200 km/ph and will travel in between 350-400 km on a single charge.
The company hopes to "lead the electric mobility revolution" in India according the senior executives.
We're taking a leap of faith as we expect a steep ramp up in demand in the coming year," said M&M managing director Pawan Goenka.
Currently, M&M imports battery cells and assembles 400-500 units per month in Bengaluru, against the dependence of electric car production.
The new facility will have a capacity of 60 000 units, approximately 5 000 per month.
P. Goenka said Mahindra will work towards bringing down manufacturing costs of electric vehicles by 20% in order to reach sustainable pricing. And Mahindra hopes the cost of imported battery cells to soon come down by two thirds.
Source ET: OA by Vatsala Gaur
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