Mahindra Group Has Announced a Partnership with Reliance for the EV Sector

Mahindra Group has joined hands with Reliance Group's Jio-BP to promote electric vehicles and strengthen charging infrastructure. Mahindra said this on Wednesday.

In a press release, Mahindra said that under the MoU signed by the two groups, their goal will be to speed up the adoption of electric vehicles (EV) in India with good performing swappable batteries. Check out the full story to know more.

Mahindra wants to strengthen itself in electric segment

As per the agreement, Jio-BP will help in charging solutions of all Mahindra electric vehicles including two wheelers, three wheelers, passenger vehicles and commercial vehicles. It will also include captive fleet and last mile mobility vehicles of Mahindra Group. With this collaboration, Mahindra plans to strengthen itself in the electric segment in the Indian market. At present only one electric car of Mahindra is available for sale.

Mahindra investing Rs 3,000 crore on EV

Mahindra has introduced a new scheme to build a strong hold in the field of electric vehicles in India. Under this, the company is going to invest Rs 3,000 crore on EV. Mahindra, on the other hand, is also opening it up to private investors to expand the electric vehicle segment and plans to invest Rs 10,000 crore in the agricultural equipment business.

Mahindra to launch 16 electric trains by 2027

The company is planning to launch 16 new electric vehicles by 2027, including eight electric SUVs and eight commercial vehicles. Four SUVs can be brought in as EV from the company's existing portfolio. These can include all models of Mahindra Thar, XUV300, XUV700 and Scorpio. On the other hand, the remaining four models will be completely new electric SUVs. However, no information about commercial vehicles has been revealed so far.

Mahindra's goal

At present, despite growing interest from consumers, there is very little sale of electric vehicles in India. This is mainly due to high battery costs and lack of charging infrastructure in the country. Mahindra expects the company to account for about 20 per cent of the total sales of electric vehicles in India by 2027 and partnership with Jio-BP could play a key role in achieving that goal.