The Mahindra Group is considering the idea of producing EV batteries domestically in India. Anish Shah, the MD and CEO of the firm, disclosed that the domestic auto behemoth is considering collaborating with international companies. Shah told PTI that the carmaker is seeking partnerships with international companies to produce battery cells locally in order to meet the anticipated increase in demand for electric vehicles in the near future.
Mahindra Group’s Future Goal
Anish Shah, the group chief executive officer and managing director of the Mahindra Group, recently spoke with PTI and stated that the business plans to list Mahindra Electric Automobile Ltd. (MEAL), its electric vehicle division, by 2030. By 2027, the corporation anticipates 20–30% of its portfolio to be electrified.
This coincides with the recent signing of a memorandum of understanding (MoU) by the Mahindra Group and the union government to carry out two pilot projects under the “Drone Didi” initiative, which aims to teach 500 women in the use of drones for agricultural purposes.
The latest event suggests that the business has made a 180-degree turn. In 2022, Inc42 published a report stating that M&M had no intention of producing EV batteries and instead planned to invest in a firm that made battery cells.
Tata Motors intends to transform its current electric concept car, Avinya, into a premium EV brand rather than a single vehicle, while Mahindra Group is looking to expand in the Indian EV industry.
According to Inc42’s analysis, the Indian EV industry is expected to reach $110.74 billion by 2029 and is home to a number of small and large EV firms. Nowadays, companies like BluSmart, Exponent Energy, Altigreen Propulsion Labs, and Ather Energy are developing sustainable mobility solutions.
