Mahindra Electric mulling EV component manufacturing unit in India

Mahindra Electric is looking to have its own electric vehicle (EV) component manufacturing unit in India, as part of its efforts to contribute to the Make in India initiative.

The electric vehicle manufacturing wing of the Mahindra Group, currently sources 50 per cent of the parts for its vehicles locally, is working towards increasing the percentage further.

The company is in the process of identifying supply partners in this regard.

"Through strategic supply partners, we are exploring the possibility of having some key EV component manufacturing being set up in the country," Mahindra Electric CEO Mahesh Babu told ETAuto.

The company currently sells electric vehicles like the e-Verito and the e2o.

"We stand with almost 50 per cent of the parts of our vehicles being sourced locally, and we are working towards increasing the percentage even further," Babu said.

The company had so far invested Rs 600 crore in its Karnataka facility and has plans to further invest Rs 400 crore over the next five years to ramp up capacity as well as set up testing infrastructure for batteries.

The target is to increase the capacity to 20,000 units per annum.

The facility makes the e20-plus as well as electric kits, which is installed in the Mahindra vehicles at the company's other facilities, apart from electric models like E-Verito and E-Supro.

Babu said: "Even today, while we import individual cells, we assemble them into usable battery modules here in India. Key systems like the BMS are our own IPR."

The company recently joined hands with self-drive rental platform Zoomcar to offer its 100 electric vehicle e20-plus on Zoomcar's platform in the capital.

Source- ET Auto