Indian automotive to aerospace company Mahindra Group is planning to inject 5 billion rupees (approximately $70 million) in setting up a global research and development (R&D) center for electric vehicles (EVs) in Bengaluru and a high-voltage electric drivetrain plant in Chakan over the next few months.
Drivetrains of higher capacity will be made at the company's upcoming plant in Chakan, which will become operational in 2020. The plant for more powerful electric drivetrains will be ready in time for the rollout of Mahindra's higher-capacity EVs.
While the vehicles will be manufactured at Mahindra's vehicle plants, the drivetrains will come from Mahindra Electric. While the plants have been built to a certain capacity, utilization would depend on the demand for EVs in the country.
Mahindra and Mahindra said cumulative investments made by the firm in electric mobility would reach $139.2 million by 2020. The firm has already invested $41.7 million in expanding its plant in Bengaluru to produce a peak of 1,000 units of the Treo every month.