{"id":107129,"date":"2023-08-16T14:13:28","date_gmt":"2023-08-16T08:43:28","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107129"},"modified":"2023-08-16T14:13:30","modified_gmt":"2023-08-16T08:43:30","slug":"by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra\/","title":{"rendered":"By 2029, M&amp;M aims to produce 2 lakh electric vehicles at its future Chakan factory: Veejay Nakra"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3587559436\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mahindra &amp; Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit the peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3001765925\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company estimates that EVs would account for 30 per cent of the overall volumes by 2030.<\/p><p>In January this year, the auto major received approval from the Maharashtra government to set up a Rs 10,000-crore electric vehicle plant in Chakan near Pune. The company, through its subsidiary, will make this investment over a period of 7-8 years for setting up the manufacturing facility, development and production of its upcoming Born Electric (BE) models.<\/p><p>&#8220;We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029,&#8221; Nakra said here.<\/p><div class=\"trade-content_5\" id=\"trade-37281792\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he added.<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/M&amp;M\/consolidated\">Mahindra &amp; Mahindra<\/a><\/strong> sells a single electric model &#8212; XUV400 &#8212; in the passenger vehicle segment which is rolled out from its Nashik plant in Maharashtra. It however is the leading player in the domestic electric three-wheeler space with over 70 per cent market share.<\/p><p>Based on the INGLO EV Platform, the automaker plans to introduce five electric SUV models under two brands &#8212; XUV and the all-new electric-only brand called BE. Legacy brands will come under XUV brand while the all new electric model would be rolled out under the BE lineage.<\/p><p>Mahindra had showcased some of the battery electric vehicle concepts last August in Oxfordshire, UK.<\/p><p>When asked about the percentage of sales the company expects from EVs&nbsp; as compared to the internal combustion engine portfolio,&nbsp; Nakra said:&#8221;About 30 per cent of our portfolio would be from electric vehicles between 2027 and 2030.&#8221; Replying to a query regarding separate showrooms for BE products in India, Nakra said it &#8220;is a work in progress.&#8221;&nbsp;<\/p><p>He further said: &#8220;We are at the moment defining the customer journey and the experience we want to give the customer and then from there we will draw back what&#8217;s going to be our point of contact or channels.&#8221; Earlier this month, Singapore&#8217;s sovereign investment firm Temasek announced an investment of Rs 1,200 crore in M&amp;M&#8217;s four-wheeler passenger electric vehicles arm &#8212; Mahindra Electric Automobile Ltd (MEAL).<\/p><div class=\"trade-content-10\" id=\"trade-3158404127\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In July last year, M&amp;M had announced an investment of up to Rs 1,925 crore by British International Investment (BII) in MEAL. M&amp;M is also looking to scale up its electric vehicle play in the international markets.<\/p><p>The auto major said it plans to sell its BE products in advanced markets like Europe and the UK. With EVs, new pick-up truck and its existing SUV line-up, M&amp;M is looking at significant jump in sales in the overseas markets.<\/p><p>The company already sells SUVs in markets like Australia, New Zealand and South Africa.<\/p><p>&#8220;So let&#8217;s call the current phase as phase one, which is where we&#8217;ve taken our authentic SUVs into multiple markets like Australia, New Zealand, South Africa.. We could be playing a very small game, we could be at a 1- 2 per cent share with these products. We will target a much higher market share, which itself is a very, very significant part of the global strategy,&#8221; Nakra said.<\/p><p>There is a large market where the company is present and it aims to have a &#8220;respectable market shares&#8221; in these markets with introduction of new products in the second phase, he noted.<\/p><p>&#8220;A double-digit market share is what is a good aspiration that we are setting for ourselves for these markets,&#8221; he noted.<\/p><p>On Tuesday, Mahindra unveiled a pick-up concept which it plans to introduce in various international markets and India as well.<\/p><p>The company also showcased the \u201cVision Thar.e&#8221;, an electric version of its SUV Thar. MEAL also unveiled a new visual identity for its forthcoming range of BE vehicles.<\/p><p>M&amp;M launched a brand anthem conceived in collaboration with music maestro A R Rahman. It also unveiled a sonic identity in collaboration with Rahman.<\/p><p>The sonic identity extends far beyond the brand anthem, encompassing over 75 unique sounds tailored for various aspects of Mahindra&#8217;s forthcoming all-new portfolio of global electric SUVs.<\/p><p>These sounds include interior and exterior drive sounds, experience zone modes, infotainment cues, and functional signals such as seat-belt alerts and turn indicators<\/p><div class=\"trade-after-content\" id=\"trade-1034990537\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mahindra &amp; Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit the peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra. The company estimates that EVs would account for 30 per cent of the overall volumes by [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-107129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>By 2029, M&amp;M aims to produce 2 lakh electric vehicles at its future Chakan factory: Veejay Nakra - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Mahindra &amp; Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit the peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"By 2029, M&amp;M aims to produce 2 lakh electric vehicles at its future Chakan factory: Veejay Nakra\" \/>\n<meta property=\"og:description\" content=\"Mahindra &amp; Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit the peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-16T08:43:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-16T08:43:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Mahindra-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra\/\",\"url\":\"https:\/\/tradebrains.in\/features\/by-2029-mm-aims-to-produce-2-lakh-electric-vehicles-at-its-future-chakan-factory-veejay-nakra\/\",\"name\":\"By 2029, M&amp;M aims to produce 2 lakh electric vehicles at its future Chakan factory: Veejay Nakra - 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