The homegrown UV maker, Mahindra & Mahindra is planning to invest 100 billion rupees ($1.21 billion) to set up an electric vehicle (EV) manufacturing plant near the western city of Pune, Maharashtra. The money will be invested in the production unit over a period of next 7-8 year.
Mahindra will use this manufacturing plant for its upcoming Born Electric Vehicles (BEVs) range, which was showcased in August 2022. Mahindra had showcased 5 new electric SUVs namely – XUV.e8, XUV.e9, BE.05, BE.07 and BE.09. While XUV EVs will arrive first in our market from 2024 onwards, the BE range will first go on sale in 2025. The new EVs will share the platform and battery module, but with different in terms of outputs. Mahindra will manufacture the XUV 700 based electric vehicle at the production plant.
The electric vehicles currently account for 1 percent of the total annual car sales of about 3 million in India. The Indian Government is aiming to grow the EVs market share to 30% by 2030. The new manufacturing plant will help Mahindra to churn out EVs faster and to rival Tata Motors, which dominates India’s EV market with over 80% share. For people not in the know, Tata has acquired Ford’s manufacturing plant in the western state of Gujarat.
Mahindra Group is also in talks with global investors to raise between $250 million & $500 million for its new EV unit. The new EV unit was valued at $9 billion in July after its first raise from British International Investment (BII).
Mahindra’s Upcoming EVs
Mahindra will launch the new XUV400 EV in January 2023. In fact, bookings for the new model will also commence in the first half of January 2023. It comes with a front-axle-mounted electric motor that draws power from a 39.4kWh battery pack. The electric motor pushes out 150bhp and 310Nm of torque. It is claimed to achieve 0-100kmph acceleration in just 8.3 seconds before hitting a top speed of 150kmph.
After XUV400, Mahindra will launch the XUV.E8 electric SUV by December 2024. This SUV is based on the INGLO platform that’s Born Electric Platform, and it shares the styling with the XUV700. The new XUV.e8 electric SUV will feature an all-wheel drive system and an 80kWh battery pack. It is claimed to offer a power output in the range of 230hp to 350hp. The company will also launch the XUV.E9 electric by April 2025. It also previews the brand’s upcoming XUV900 SUV Coupe. It is likely to share the battery pack and electric motors with the electric XUV.e8.
Mahindra will start launching the BE range of EVs from October 2025. The first model will be the Mahindra BE.05 electric SUV, which will be positioned above the XUV400. The BE.07 electric SUV is scheduled to be launched by October 2026. The company is yet to disclose the launch timeline for the BE.09 electric SUV.
Source – C&B
