M&M unveiled a new dedicated EV manufacturing & battery assembly facility, shares traded higher

Strategically located within the company’s 2.83 km2 Chakan manufacturing hub—one of India’s largest greenfield projects, a water-positive facility- and 100% reliant on renewable energy. The plant is built with a total capex of ₹4,500 crore out of the total ₹16,000 crore outlay for FY22-27. This includes powertrain development, two product top hats including software & tech and manufacturing capacity.

The new manufacturing facility is one of the world’s most compact battery manufacturing lines, employing patented processes and lean module assembly. Earlier last month, the company unveiled two new electric vehicle brands that had driving ranges of 500+ km on a single charge.

The Indian automobile industry, especially the electric vehicle market, is expected to become more competitive as all major car manufacturers prepare for multiple product launches.

The company reported a 15.92% rise in its overall auto sales (including exports) to 69768 units for the month of December 2024, compared to 60,188 units in the same month last year. Of the total, the company posted an 18% increase in domestic passenger vehicle sales to 41,424 units in December 2024, compared to 35,174 units of passenger vehicles in December 2023.