Mahindra unveils five electric SUVs to accelerate EV shift | Tech US News

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Mahindra & Mahindra Ltd has launched five British-designed electric sports utility vehicles as the automaker looks to accelerate its switch to battery-powered cars in India.

The SUVs will be sold under two brands — XUV and BE — the automaker said in a video presentation on Monday. Electric vehicles were conceived at Mahindra Advanced Design Europe in the UK.

Developing a range of clean vehicles is crucial for Mahindra to break rival Tata Motors Ltd’s dominance in India’s new electric car market. Mahindra, a local leader in electric three-wheelers, currently sells only one electric car, the e-Verito, despite having a first-mover advantage with the purchase of an Indian electric automaker in 2010.

Electric vehicle adoption in India has lagged behind other major countries such as China due to the high cost of charging infrastructure and battery-powered cars. Decarbonizing transport is key for India, the third-largest emitter of greenhouse gases, to meet its goal of net carbon zero by 2070.

Ola Plans

Mahindra’s first e-SUVs will be launched for the Indian market by the end of 2024, while the other three will be rolled out by 2026, the company said in a statement.

In a sign of how crowded the market is, Bhavesh Agarwal’s startup, Ola Electric Mobility Pvt., on the same day plans to launch its first electric car in mid-2024 and price it under $50,000 for the Indian market. announced.

Mahindra’s new wholly-owned EV unit was valued at $9.1 billion when it attracted a $250 million investment from Britain’s International Investment Plc in July. The carmaker’s executive director, Rajesh Jejurikar, expects 30% of Mahindra’s SUV portfolio to be electric by 2027 and eight electric SUVs will be launched by then.

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