Indian automaker Mahindra & Mahindra plans to invest 100 billion rupees ($1.2 billion) to set up an electric vehicle manufacturing plant in the west of the country, accelerating its drive into a sector that is expected to grow rapidly in the coming years.

The new EV manufacturing plant will be located in Pune, one of India's oldest auto manufacturing hubs, which is home to companies including Volkswagen and Mercedes-Benz as well as Bajaj Auto and Hero MotoCorp.

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