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- To compete against Flipkart and Amazon, paytm mall plans to invest $2.5 Billion - December 6, 2017
Mahindra which is looking to encash the opportunity of manufacturing Electric Vehicles in India, has committed INR 600 Cr for Electric Vehicles. According to media sources, the manufacturer is developing an EV version of KUV100, and the same is expected to launch in 2018. The second model (yet to be announced), shall be available by 2019 and it is being built by Mahindra-owned Italian premium car design firm Pininfarina.
Speaking at the development, Mahindra and Mahindra MD Pawan Goenka, Managing Director recently said, “Our first new electric car will come by 2018 and the second one will be launched by the end of 2019 and we are very excited for both.”
Mahindra has reportedly committed over $92.7 Mn (INR 600 Cr) for the next three years. Both the new EV models will be produced at the company’s plant in Bengaluru.
On the other hand Ola is in talks Tata Motors to launch an EV version of Nano. As per the media sources the Tata Nano EV will be deployed in Ola’s fleet in Delhi NCR first. In one of the reports, the EV version of Nano had already begun in Coimbatore. Also, the road test was successfully performed in the presence of Tata Sons’ Chairman Emeritus Ratan N Tata.