![Tata, Mahindra see no logic in incentivising hybrids](https://images.assettype.com/fortuneindia%2F2024-05%2F63454da5-65cd-4009-b014-cece230fe761%2Fhybrid.jpg?rect=0,195,3360,1680&w=300&q=95)
Tata, Mahindra see no logic in incentivising hybrids
Homegrown automakers say comparing the Indian EV market with the rest of the world isn't right.
Homegrown automakers say comparing the Indian EV market with the rest of the world isn't right.
The country’s largest SUV manufacturer plans to invest ₹12,000 crore in its electric vehicle unit Mahindra Electric Automobile Limited (MEAL).
M&M says funds to be invested in the next 3 yrs; adds that it’s not looking to raise additional capital
The shares of M&M gained 5% to scale a fresh all-time high of ₹2,166, while the market capitalisation climbed to ₹2.68 lakh crore.
The XUV400 customers will have access to more than 1,100 chargers on the Bluesense+App through the joint venture, which will enhance the convenience and reach of electric vehicle charging.
Shares of Mahindra & Mahindra fell 4% to ₹1,885 on the BSE.
Hybrid is not really the technology for the future that EV is, says Mahindra Group CEO Anish Shah
Mahindra expects its utility vehicle sales to grow faster than the industry.
Mahindra & Mahindra's revenue rises 16% to ₹25,642 crore.
The domestic wholesales of two-wheeler manufacturers including electric vehicles grew by 26.2% YoY to 14,95,183 units against 11,84,376 units in the same period last year.