Mahindra Group is exploring an acquisition of General Motors' Talegaon plant in Maharashtra, sources told CNBC-TV18.

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Talks between Mahindra Group and General Motors are in early stages, and no decision has been taken yet, they said.

General Motors’ Talegaon plant is close to Mahindra's Chakan facility.

Mahindra Group is ramping up its capacity at existing plants to meet the demand for the Scorpio and the XUV700.

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Mahindra launches design studio, unveils new INGLO EV platform & 5 e-SUVs under 2 new brands

On Monday, Mahindra Group Chairman Anand Mahindra said that it was an opportune time to enter the electric passenger vehicle segment, given the increased consumer awareness and government support in place.

Mahindra Group may need additional capacity for its SUVs and electric vehicle (EV) portfolio in two-three years.

Mahindra is set to launch its first electric SUV in December 2024.

Mahindra currently does not have a presence in the electric passenger segment. It, however, is reportedly the leading player in the domestic electric three-wheeler space with over 70 percent market share.

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First Published:Aug 19, 2022 9:25 AM IST