No EV unit planned beyond Chakan: M&M

UV maker Mahindra & Mahindra (M&M), which enjoys a 21.6 per cent revenue market share in the segment, is progressing with its upcoming electric vehicle (EV) and EV battery manufacturing plant in Chakan.

The auto major ruled out plans to set up another facility to house its new EV architecture. Kerala industries minister P Rajeeve told Business Standard last month that M&M officials would meet them soon. The state is in talks with EV players to set up manufacturing facilities. Earlier in August, a Reuters report suggested that M&M and China's Shaanxi had agreed to form a $3 billion joint venture for building a car manufacturing plant in Gujarat, pending approval from New Delhi. However, M&M later clarified that the report was unfounded.

Recent reports have also claimed that the company is scouting for land in Maharashtra - near Shirur, Ahmednagar, and Chakan for another greenfield plant that will make vehicles on a multi-energy platform, the New Flexible Architecture (NFA).