Mahindra develops new product line-up. Confirms investment in EVs. | Tech US News

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Mahindra expects the transition to electric vehicles to begin with the flat and SUV segments in the Indian market.

by:
HT Auto Desk

|
Updated:
September 12, 2022, 8:31 am

Mahindra recently unveiled the XUV400 electric vehicle.
Mahindra recently unveiled the XUV400 electric vehicle.

Mahindra & Mahindra is in the process of developing new products in the electric vehicle segment while focusing on its electrification goals as it is positive about the transition of the auto industry in the country. A senior company official from Mahindra shared that the automaker is expecting a gradual turnaround with the fleet and SUV segments leading the change.

Based on its internal research, Mahindra said current SUV buyers are considering going for an electric SUV as their next purchase. “Our internal research tells us that 25 percent of current SUV buyers would like to consider an electric SUV as their next purchase. Will see,” said Mahindra & Mahindra executive director (auto and farm sector) Rajesh Jejurikar. A percentage of its SUVs will be electric in the next five years.

Fast on electric mobility, Mahindra has launched five new electric SUVs in its EV segment. Of these, four electric SUVs will hit the Indian market between December 2024 and 2026. It plans to introduce five electric SUV models under two brands – the XUV and an all-new electric-only brand called ‘BE’. While the older models will come under the XUV arm, the new electric vehicle will be offered under the BE brand.

(Also Read | Mahindra Unveils XUV400 Electric Car. See Features, Range & More)

Jejurikar said EV adoption in hatchbacks and sedans in the personal segment will be slow as consumers are not interested in paying higher prices than before for the only family car in the absence of proper charging infrastructure. “In the SUV space, whether entry or mid-size, there will be very rapid adoption as they are typically part of households that have more than one car,” he added. Mahindra has already unveiled its first electric SUV under the XUV brand. — The mid-size XUV 400 to be launched from its Nashik plant in Maharashtra.

(with inputs from PTI)

Date of First Publication: September 11, 2022, 14:41 PM IST

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