With their sophisticated profiles, robust performance and hi-tech features, Mahindra born-electric EVs can emerge as global bestsellers
Mahindra & Mahindra (M&M) has achieved a significant milestone in the Indian market by surpassing Tata Motors to become the country’s second most valuable company. M&M’s market capitalization has climbed to INR 3,65,193 crore, exceeding Tata Motors’ market cap of INR 3,29,041 crore. This achievement came as M&M’s stock price increased by 3%, hitting a new 52-week high of INR 2,946.
Mahindra new-gen EVs to target UK, Western Europe
In addition to its impressive market cap growth, Mahindra is also making strides in the global market with ambitious plans for the electric vehicle (EV) segment. The company has outlined plans to launch seven new EVs by 2030. These born-electric vehicles will help Mahindra expand its reach into new geographies, building on its existing global footprint.
With its current range of ICE SUVs, Mahindra already has a strong global presence. Markets served include Australia, New Zealand, Latin America, SAARC and Africa and Middle East. This global footprint will be further expanded with the upcoming born-electric SUVs. Mahindra’s born-electric EV portfolio comprises the XUV.e and BE range. There are plans to launch the electric versions of Thar, Scorpio and Bolero as well. These will go on sale as Thar.e, Scorpio.e and Bolero.e.
Newer markets for Mahindra’s upcoming EVs include the UK and Western Europe. The company has strategically established its design centre ‘Mahindra Advanced Design Europe’ (MADE) in Oxfordshire, England. This unit focuses on the design aspects for Mahindra’s upcoming born-electric EV products. Test mules of XUV.e and BE electric cars have revealed an exciting, futuristic design format that has potential to attract customers across diverse geographies.
Focus on performance, advanced equipment
Mahindra upcoming new-gen EVs will be positioned as high-performance machines, offering an array of premium, hi-tech equipment. These EVs will be utilizing the advanced INGLO platform, optimized for efficiency, speed, safety and adaptability. In addition to a comprehensive range of ADAS features, Mahindra upcoming EVs will have panoramic sunroof, 5G support and 360° surround view. Other highlights include an edge-to-edge panoramic touchscreen display, OTA updates and a wide range of connectivity features.
Talking about performance, the battery packs for XUV.e and BE range EVs are expected to be of 60-80 kWh capacity. Power output will be 170 kW for rear-wheel drive variants and 250 kW for all-wheel drive models. 0 to 100 km/H will take around 5-6 seconds. Charging will be pretty quick, with around 80% achievable in less than 30 minutes when using a 175-kW fast charger.
Mahindra EVs launch timeline
XUV.e8 will be the first new-gen EV product, expected to be launched by the end of this year. XUV.e8 is essentially the electric version of XUV700. XUV.e9 is also under development, which will be the coupe version of XUV.e8. The BE range comprises BE.05, BE.07 and BE.09. The first among the BE range, likely BE.05, is expected to debut in 2025. Beyond that, Mahindra will be introducing the electric versions of Thar, Scorpio and Bolero.
To meet increased demand for its EVs, Mahindra has plans to increase production capacity to 10,000 EVs by end of FY25. By FY26, production capacity will be scaled up by an additional 8,000 units. In comparison to FY20, Mahindra aims to increase overall capacity by 3.5-times by FY26.
