Mahindra & Mahindra is an Indian multinational vehicle company, producing passenger cars, motorcycles and agricultural machinery, with annual vehicle sales of about 300k. It acquired Reva Electric Car to enter EV business in 2010. 16 EV models will be launched by 2027. The company announced INR 30 B EV investment, and agreement with British International Investment (BII) to set up a wholly owned subsidiary, EVCo. EV technology is mainly outsourced from Volkswagen and will purchase their EV components such as batteries or motors. The company expressed its intention to invest in the battery industry in July 2022.