Mahindra Targets Putting 5 Lakh EVs On Indian Roads By 2025

Mahindra XUV300 Petrol AMT Launched

Mahindra & Mahindra aims to have 5 lakh electric vehicles on roads by 2025, and is planning to invest Rs 3,000 crore in its EV business in the country in the next three years

Anish Shah, who recently took over as the Managing Director and CEO of Mahindra Group, has revealed the company’s plans of investing Rs 3,000 crore in its electric vehicles business in the next three years. Shah also said that Mahindra targets putting 5 lakh electric vehicles on Indian roads by the year 2025.

Mahindra is working on developing an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. group. “We have capabilities in Detroit…we have the capability in Automobili Pininfarina and our Formula E,” said Shah, adding that these will be combined to get an electric platform for India. Mahindra is also reportedly considering alliances for its EV business.

It should be noted that the company has already invested Rs 1,700 crore in its EV business in India with another Rs 500 crore on a new R&D centre. While the company has already opened its electric technologies plant in Bengaluru that produces battery packs, power electronics and motors, it has also invested in a new manufacturing unit at its Chakan plant to produce electric vehicles.

Mahindra eXUV300 Rear 1

However, Mahindra is yet to launch an electric car in India for the masses. The homegrown manufacturer has previously tried its hand at electric cars with the REVA, e2o, e2o Plus and e-Verito, none of these cars has managed to sell in large numbers, which is probably because electric vehicle technology not as advanced at that time as today. It should be noted that the e-Verito continues to be on sale in the country.

Mahindra did showcase a fully electric sub-4m SUV concept based on the XUV300 at the 2020 Auto Expo, but the carmaker hasn’t yet confirmed when the production-ready version of the EV will hit the markets. Upon arrival, the electric XUV300 will directly be pitted against the Tata Nexon EV. Also, the electric KUV100 (eKUV100) has also been in the pipeline for a long time now. However, Mahindra could finally launch the car later this year.