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BRIEF-Mahindra & Mahindra says co investing in developing long range, high speed electric vehicles
May 24, 2017 / 6:53 AM / 6 months ago

BRIEF-Mahindra & Mahindra says co investing in developing long range, high speed electric vehicles

May 24 (Reuters) - Mahindra & Mahindra Ltd:

* Exec says co to increase battery assembly to 12000 units in a few months from 5000

* Says investing in developing long range, high speed electric vehicles

* To invest to ramp up manufacturing of electric vehicles, setting up charging stations, other components like batteries, motors

* Exec says co has so far invested 6 billion rupees in EVs

* Exec says to increase electric vehicles manufacturing capcity to 5000 a month over time from 400 currently

* Exec says working with the india government on new policy for electric vehicles

* Exec says 20 percent reduction in cost will help make electric vehciles commercially viable for company

* Exec says need to increase the range of electric vehicles to about 200 kms

* Exec says co to develop batteries for electric vehicles that will give a range of 400kms

* Exec says co expects to have 8-10 percent share of total electric vehicles market in india in 4-5 years

* Exec says co working on a 32 seater bus on electric batteries to be launched in a year or year and a half Further company coverage:

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