The automaker is also working on higher voltage powertrains for its luxury vehicle designed by Pininfarina. The company has also revamped it electric vehicle business by using the Reva plant in Bangalore.
M&M MD Pawan Goenka said, “We will put in another Rs 600 crore in the next couple of years to take the cumulative total to Rs 1,200 crore not including product development spend and the investment in the high-end luxury electric vehicle being developed by Pininfarina.” Currently, Mahindra produces 48V and 72V engines. Goenka added, “We are working on increasing productivity and launching a new 360-600 V powertrain that will go into the Pininfarina badged luxury electric car, small buses and other high-end vehicles.”
A 9-metre electric bus will be launched next year, and the e-rickshaws will be rolled out by this year end. Mahindra also plans to an electric vehicle production plant In Chakan near Pune.