Mahindra & Mahindra recently unveiled its first electric SUV for the Indian market. Called the Mahindra XUV400, the model will see a release in January 2023. Speaking to an online media publication, Rajesh Jejurikar, Executive Director (Auto and Farm Sectors) at Mahindra & Mahindra has revealed that the company is working on its new product lineup and investments along with increasing its production capacity.
As per Mahindra’s internal research 25 per cent of the existing SUV buyers would consider an electric SUV as their next purchase. The automaker expects to achieve 20-30 per cent electrification of its SUV product lineup in the next 5 years. It has planned five new electric SUVs that will come under two brands – XUV and BE (Born Electric). In August 2022, Mahindra unveiled concepts of its upcoming electric SUVs – XUV.e8, XUV.e9, BE.05, BE.07 and BE.09. While the first XXUV.e8 (which will essentially be the electric version of the XUV700) will hit roads in December 2024, the first of BE models will be launched in October 2025.
Jejurikar further revealed that the company is currently in talks with 3-4 state governments to consider incentives being offered and finalize its production plan for the upcoming electric SUVs. The recently-unveiled Mahindra XUV400 will be manufactured at the carmaker’s Nashik-based plant in Maharashtra. In the next 3 years, the Pune-based automaker will have capital expenditure towards its electric plans ranging between Rs 8,000 – Rs 9,000 crore.
The company expects to achieve its best ever festive season and yearly sales. In August 2022, Mahindra dispatched around 30,000 SUVs which is highest ever wholesales in a month. At present, the automaker has over 100,000 bookings for its existing range and over 100,000 bookings for the new Mahindra Scorpio N. Last month, it produced 29,000 units compared to 18,000 – 19,000 units previous year. It plans to further increase its production capacity in November 2022.
