Indian manufacturer plans 5,000 electric vehicles a month despite recent UK exit.
Indian car manufacturer Mahindra has revealed ambitious targets for electric vehicle sales on the back of a jump in profits.
The company announced a 20% increase in profits this week, and outlined plans to massively increase EV sales in the coming years, targeting production of 5,000 electric vehicles a month within the next three years.
The company has only sold 7,000 electric vehicles in total, but is said to be developing more advanced electric powertrains that can be developed into cars, trucks and buses as well as novelties perhaps more suited to its home market, such as electric rickshaws.
Mahindra recently announced its withdrawal from the UK electric vehicle market, but it is believed that the company plans to expand into Europe via the Pininfarina brand, which it bought in 2016.
The company has also revealed plans to work with Korean manufacturer Ssangyong to sell EVs in China using a jointly developed powertrain, and may decide to develop that into a car for the European market.