Mahindra Electric is reportedly planning to introduce close to six zero-emission three-wheelers and quadricycles; to double up production as well
Mahindra & Mahindra is gearing up to introduce a slew of new launches over the next five years and the successfully running XUV700 is part of the new strategy. Meanwhile, Mahindra Electric is also looking at doubling its production amidst expanding the product range with the inclusion of close to six electric vehicles in the three-wheeler and quadricycle space.
The homegrown manufacturer will invest around Rs. 300 crore in its electric vehicle business reportedly and will close the current financial year with volumes of around 14,000 to 15,000 units, and if the chip shortage issues are rectified, the volumes could double up in the next FY. M&M is predicted to reach 30,000 units at its Bengaluru production base.
It will reportedly manufacture and retail about one lakh electric three-wheelers per year by 2024-25. Suman Mishra, CEO, Mahindra Electric Mobility told Economic Times that her brand is witnessing very strong demand and hopes to surpass all of the year-to-date sales again in the next quarter alone. She expects the scale, the size and the sector as a whole to grow significantly.
Mahindra believes the EV penetration will dramatically increase to 30 per cent as far as three-wheeler volumes are concerned and that the segment may peak out at five to six lakh units in the next three years. It is mulling over bringing up a whole range of swappable battery solutions courtesy of its association with Jio-BP alongside adopting a cluster approach.
The SUV specialist is expected to launch the new generation Scorpio in the first half of next year and it will come with a host of changes inside and out. The production-spec prototype has already been spotted testing on public roads and it will likely be powered by a 2.0-litre petrol and a 2.2-litre diesel engine with manual and automatic transmission choices.
At the 2020 Auto Expo, Mahindra showcased the near-production version of the XUV300 compact SUV known as eXUV300 and in the previous edition of the biennial motoring show, the electric version of the KUV was displayed. Both are reportedly bound to reach showrooms in the near future.