Mahindra plans to make its EV business flourish in India. All updates.

Introduction:

Tata motors are the most successful EV brand in India right now and seeing their upcoming plans it’s pretty sure that they will remain at the top. But. Monopoly never results well in any industry by anyone. To break this monopoly and provide more and better options to the Indian EV enthusiasts, Mahindra & Mahindra is brushing themselves up and preparing to give solid competition to the most astonishing brand in the Indian EV space “Tata Motors”.

In this article, we’ll see how Mahindra is planning to come back into the Indian EV space and capture a good market cap of Indian EV space. We’ve coved all the recent news and updates regarding this action in the Indian automobile space to keep you updated.

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Let’s dive into the Past:

E-vehicles aren’t really new to Mahindra, in fact, they launched their very first electric car in the year 2013 with the name “E2O”. Back in 2013, the price of batteries wasn’t as low as today also people were not ready to invest their money into such a new-age technology. So, due to many such reasons, M&M’s first electric car failed to perform among the people, and also Mahindra never thought to perform such an experiment ever again.

But they showed up again:

At the EV expo, 2020 Mahindra added a new electric SUV car to their showcase portfolio, indicating that they are ready to adopt E-mobility, and are not dedicated to just keep building ICE vehicles. (Unlike Maruti Suzuki).

XUV 300 EV:

The XUV 300 is a petrol/diesel variant SUV that is showcased at EV expo 2020 in its electric avatar. But as the years passed and the customer demands and expectations from an EV expanded, Mahindra made changes to their car and made an electric version of XUV 300 and named it XUV 400.

Mahindra XUV 400:

This electric car will be the electric replica of the Mahindra XUV 300 with a bit of modification to make it more effective. The length of XUV 300 is about 3.9 meters but in its electric version XUV 400, the length will be 4.2 meters. This electric SUV is expected to compete for head-on with the most sold electric car Nexon EV.

Observing the market dynamics the Mahindra XUV 400 is expected to be launched in 3 different versions low-end, mid-range, and high-end. These variations will be made based on the range itself and we can undoubtedly say that the higher version of XUV 400 will compete with Tata Nexon EV max.

Mahindra has played smart and to avoid excise duty and other taxes they kept the length above 4 meters. However, electric cars have a lesser load to pay for any taxes and excise duties but to maintain the feel of an SUV and provide the feel of an electric car Mahindra has done this. It’ll have more degree of comfortability and be more spacious than the Nexon EV.

In price range, also it’ll remain competitive with the Tata Nexon EV electric car. It’s expected to have a price range within the bracket of 14-21 Lakh, from its lower end to top end modal.

Mahindra XUV 300 Recent News headlines:

  • M&M has raised massive funding from British International Investment (B.I.I.) of amount Rs. 1,925 Crores at a valuation of 9 billion dollars to invest in its electric vehicle subsidiary. This amount is nearly the same as Tata motors when raised funds in 2021. This clearly shows the head-on competition between Tata Motor and Mahindra & Mahindra to capture the electric vehicle industry in India.
  • Mahindra has officially released the statement to launch their XUV 400 in India within this year.
  • M&M revealed their plans to add 4 electric cars to their portfolio till the year 2026.

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