Mahindra has invested Rs. 400 crore in the EV development already; aims to consolidate its stronghold in Indian electric domain
Mahindra is the only mainstream Indian automaker that current sells electric vehicles in the domestic market with decent numbers. While the other brands are aiming to roll out their products in the Indian EV market, Mahindra is preparing to consolidate its position further with new launches in a hope to reach out the masses. The homegrown auto major is gearing up to introduce electric versions of the popular Scorpio and the flagship XUV500 SUVs soon while a zero-emission KUV is slated to debut next year as a first major assault for private buyers.
Mahindra Electric is working on the Scorpio and XUV500 EVs and we can expect the latter to arrive in the domestic market by the end of 2019, while the urban utilitarian’s electric variant may launch ahead in the same year according to consecutive reports emerged on the internet. As the Indian government is striving to introduce full electric across the country by 2030, Mahindra is preparing to grab a sizeable chunk in the market. The automaker already sells three electric vehicles in India that are the e2o Plus, e-Verito and the e-Supro.
The automaker is said to have invested a huge sum of around Rs. 400 crore already for the development of electric vehicles as part of a massive push by cashing in Rs. 4,000 crore in the next three to five years. Apart from that, it is also looking for partners that will develop the EV related technologies, powertrain, electronics and components as high localisation will be key for pricing the products competitive. As we reported earlier, Mahindra is currently working on a larger battery pack that will generate power for its future large electric vehicles. Expect the Scorpio and XUV500 EVs to come powered by the same unit.
Electric versions of the Mahindra Scorpio and XUV500 will certainly give the brand an advantage over its rivals that are yet to launch their products here. Also, the popularity of the Scorpio and XUV500 will help the electric versions of these SUVs as well in garnering good sales numbers. But, they should not come at the expense of the signature driveability the brand is known for with its utility vehicles. Upon arrival, these two products are likely to be priced at Rs. 12 lakh and Rs. 15 lakh respectively (ex-showroom). It is just our estimation but as the market expands, it could become much cheaper.
While Mahindra is gearing up to launch its EVs in the country, other brands like Nissan, Tesla, Tata Motors are also preparing to launch their electric vehicles here. Luxury car makers Volvo and Mercedes-Benz too have showed interest in introducing their electric powered cars in India.
In next two years, Mahindra aims to produce 60,000 electric vehicles per annum and its presence in Formula E series will aid a huge amount in developing international as well as domestic EVs. The partnership with Ford could prove to be crucial for Mahindra in bringing out accessible electric vehicles as the American auto major’s technical expertise will play a significant role. Mahindra is also tipped to be working on a EV sportscar under the Pininfarina badge.
Like Mahindra, Toyota has joined hands with Suzuki to introduce small cars in India and eventually electrified vehicles. We could see more alliance between auto giants in the future as they are planning to roll out fresh new products and take full advantage of the vast potential in our market. Tata Motors and Mahindra are supplying electric vehicles to government-run EESL and the electric Tigor being readied could reach your nearest showrooms sooner rather than later.