Mahindra & Mahindra Limited announced that Mahindra Electric Automobile Limited ("MEAL") has been incorporated in Mumbai, Maharashtra on 25th October, 2022 as a wholly owned subsidiary of the Company. Authorized Capital of MEAL is INR 1,000,000. Paid up Capital of MEAL is INR 500,000.

Date of Incorporation is 25th October, 2022. The Company has incorporated MEAL to carry on, directly or indirectly, the business of designing, developing, manufacturing, fabricating, assembling, selling, buying, re-selling, importing, servicing, exporting, supplying, trading, altering, marketing, acting as stockists, dealers, distributors, let on hire, buy or sell on hire-purchase or instalment system of, and all kinds of services related thereto or otherwise dealing in any manner with 4-wheel passenger electric vehicles (incl. parts) of all kinds and description.