In recent developments, Mahindra, India’s leading SUV manufacturer, has made significant strides in the electric vehicle (EV) sector with the launch of the Mahindra XEV 9e and BE 6. Priced between INR 21.90 to 30.50 lakh for the XEV 9e and INR 18.90 to 26.90 lakh for the BE 6, these models mark a crucial step toward Mahindra’s ambition to expand its presence in the global market. With its robust position in India, the company is now looking to challenge established players such as Tesla and China’s BYD. Mahindra’s roadmap includes an ambitious investment of INR 16,000 crores dedicated to its electric vehicle lineup.
Mahindra’s Strategic Global Expansion
Mahindra plans to enhance its international footprint in a phased manner, beginning with an expansion of its distribution channels in various countries. The company is heavily focused on launching lifestyle-oriented pickup trucks and a new range of electric cars. This strategic approach is set to intensify competition in the EV market, particularly for companies like Tesla and BYD, who dominate the global landscape.
Markets Targeted for Mahindra SUV Launches
Mahindra already has a solid presence in markets such as South Africa, Australia, New Zealand, Morocco, and Chile, where its distribution networks are performing well. Recently, the company began selling the Scorpio pickup in select markets and anticipates that models like the XUV700, Scorpio N, and XUV 3XO are poised for introduction in these regions.
Plans for ASEAN Markets
In its initial phase, Mahindra intends to launch vehicles in international markets where it already has a footprint. The second phase will introduce global lifestyle pickups designed for both right-hand and left-hand drive markets, with the ASEAN region set to receive larger pickup models.
Mahindra’s Ambitious EV Plans
In 2023, Mahindra unveiled its global pickup concept, with production anticipated to begin in 2027. In the third phase of its strategy, the company aims to introduce electric SUVs specifically tailored for right-hand drive markets. However, initial responses from the Indian market will dictate Mahindra’s timeline for launching EVs in countries like the UK.
Production and Capacity Goals
Mahindra plans to produce 5,000 units of the XEV 9e and BE 6 monthly. The Chakan plant has been equipped with facilities for EV manufacturing and battery assembly, enabling the production of up to 90,000 electric vehicles annually. The company’s long-term vision is to elevate its production capacity to 1.2 lakh units per year by 2027.
Investing in the Future of Electric Vehicles
To bolster its commitment to electric vehicles, Mahindra has earmarked INR 16,000 crores for the development of EV technology and infrastructure from 2022 to 2027. This significant investment underlines Mahindra’s dedication to become a formidable player in the global electric vehicle market.
As Mahindra continues to innovate and expand its electric vehicle offerings, the competition within the EV sector is bound to escalate, providing consumers with more options and advancing the worldwide shift towards sustainable mobility.