Mahindra and Mahindra has confirmed the homegrown carmaker will begin its foray into the passenger EV space from the next calendar year. Rajesh Jejurikar, executive director of Mahindra and Mahindra, said the firm’s two new EVs, the Mahindra eXUV300 and the eKUV100 (showcased at the 2020 Auto Expo) will see a market launch in 2022. Mahindra has put in place a two-pronged strategy to shore up its presence in the EV space. The company plans to invest Rs 3,000 crore into its EV business by 2025, also the time the firm thinks the personal EV segment in the company will have matured significantly in terms of cost and infrastructure.
Of this, the company has already invested Rs 1,700 crore and spent another Rs 500 crore to set up a new research and development centre. Meanwhile, the Mahindra Electric subsidiary has also been consolidated into the larger Mahindra Automotive group.
Currently, the focus for the company is on last-mile mobility solutions, a segment the firm thinks is ready for electrification. Mahindra has a full range of electric three-wheelers on the market, and the Mahindra Atom, a passenger-carrying four-wheeler shown in near-production form at the 2020 Auto Expo, will also be launched sometime this year.
As for the personal EV space, the company is developing the Mahindra Electric Scalable Modular Architecture (MESMA 350). This will be a high-voltage, long-range platform that will be the base for the eXUV300. The Mahindra XUV300 electric is expected to be powered by a 40kWh battery which will give a power output of 132 hp, with a range of about 300 km in a single charge and will rival the Tata Nexon EV. The eKUV100 will be aimed at a most price-conscious segment and should come with a roughly 150 km range. The eXUV300 will go up against the Nexon EV and should charge a similar Rs 2 to 3 lakh premium over the standard car. Mahindra has confirmed that it will focus on the EV SUV market, in keeping with its positioning in the IC-engine market.
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