Auto Expo 2020 Live: Mahindra Group To Invest Rs 15,000 Crore In Auto Sector Over Next 3 Years
Mahindra Group To Invest Rs 15,000 Crore In Auto Sector Over Next Three Years
Mahindra & Mahindra Ltd. is planning to invest Rs 15,000 crore into its cars business over the next three years. That’s according to its managing director Pawan Goenka.
The carmaker also unveiled at least three new models at the event—e XUV 300, e KUV 100 and a concept EV Funster and quadricycle Atom.
Other Highlights:
- Clarion call is to develop sustainable vehicle future for the future.
- Firmly believe that shared mobility will drive large scale adoption of EV.
The Switch To Electric Cars From Internal Fuel Combustion Engines Can’t Happen Immediately, Says Maruti’s Srivastava
Maruti Suzuki India Ltd. will focus on four different technologies— compressed natural gas, smart hybrid, strong hybrid and electric vehicles as a part of its Mission Green Million.
Mission Green Million is part of the company's plan to roll out 1 million green vehicles on Indian roads in the next two years as the company does not want to focus only on EV segment. That’s according to Shashank Srivastava, executive director, Maruti Suzuki India.
Out of 70 million cars expected to come from today till 2030, the industry is projecting 7-8 percent to be electric vehicles. That means 63-64 million will still be internal combustion engine based cars. It won’t be a zero to one switch from ICE to electric engines. There is a long intermediate period in which we must improve fuel efficiencies to reduce consumption and that is what we are focusing at this stage.Shashank Srivastava, Executive Director, Maruti Suzuki India.