Mahindra LMM Holds Ground-breaking Ceremony Of EV Facility In Telangana
Listen to This Article
Mahindra Last Mile Mobility (LMM), a part of Mahindra & Mahindra (M&M), on Monday held a ground-breaking ceremony for a new manufacturing unit at its existing plant here.
Telangana Minister for Industries K T Rama Rao was the chief guest, a press release from the automaker said.
The initiative is pursuant to the announcement of the Rs 1,000 crore investment in Telangana that M&M made in February this year. With this new facility, the company aims to build a state-of-the-art battery assembly line, producing power packs and manufacture electronic as well as drivetrain components for electric 3 and 4-wheelers, it said.
The facility would also create employment for 800 to 1,000 employees in the region.
Rama Rao, said EVs are a focus area for the Telangana Government which is committed to develop the right infrastructure and ecosystem for promotion and adoption of electric vehicles.
"This new facility will help in proliferation of EVs not just in Telangana but across India. Congratulations to M&M for the ground-breaking of their new facility. I am sure that this facility will go a long way in generating employment and sustaining livelihoods," the Minister said.
Suman Mishra, CEO, Mahindra Last Mile Mobility said, "Mahindra Last Mile Mobility is at the forefront of India's 3-wheeler electrification journey. I would like to thank the Government of Telangana for their proactiveness and ease of doing business policies under which Zaheerabad has been developed into one of the four mega EV manufacturing clusters. This facility will allow us to access state-of-the-art infrastructure available in the region.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more