Mahindra & Mahindra (M&M) today said it will invest an additional Rs 500 crore at its Chakan plant in Maharashtra to expand its electric vehicles portfolio. The utility vehicle major today inked two pacts with the state government regarding EVs. In a statement issued today, M&M said it will make efforts to become fully electric ready by further investing in its Chakan plant for manufacture of EVs, e-motor, controller, battery pack and other electric vehicle components for multiple mobility applications. "As part of this expansion plan, the company will invest an additional Rs 500 crore (in Maharashtra)," it said.