India's Mahindra plans $1.4bn EV buildup, CEO says, as it chases Tata

MUMBAI -- Indian conglomerate the Mahindra group plans to spend more than 120 billion rupees ($1.43 billion) over three years to speed up its rollout of electric vehicles, according to group CEO and Managing Director Anish Shah.

"We expect 20 to 30% of our vehicles to be electric in the next three to four years," Shah said in a recent interview, referring to passenger cars.