Maruti, Tata Motors and M&M to jointly develop Electric Hybrid Car

India’s largest car maker, Maruti Suzuki and two other indigenous car companies Tata Motors Ltd and Mahindra and Mahindra (M&M) Ltd. have joined hands to develop parts for an electric-hybrid car.

This is not the first time these companies came together. They did it in 2009 to develop technology for electric and hybrid vehicles. The alliance will invest up to Rs 25 core on this project. The government will also invest an equal amount under FAME (Faster Adoption and Manufacturing of Electric and Hybrid vehicle) scheme.