Thursday, August 19, 2021

Mahindra to launch an EV in 2023 | eXUV300

Mahindra plans to launch their new-gen electric vehicle no sooner than 2023. Says will enter market space when ready. Currently will only focus on commercial vehicles
Mahindra displayed their eXUV300 model built on the Mahindra Electric Scalable and Modular Architecture (MESMA) platform, at the expo 2020 for the 1st time. It is likely to offer two battery options on the eXUV300
The more affordable version will have a range of around 300km as the name says it. A pricier, longer-range model is also expected with a 60kWh battery pack that will power a 150kW (or 204hp) electric motor to give a range of 400+ kms.

Dr Pawan Goenka, and other key officials believe that appealing to a private buyer requires a significantly higher range. This can only be achieved only by upping the battery size which, in turn, will drive up costs today and result in the vehicle being priced out of the segment. So, they are now optimistic that their plan to launch electric cars after 2 years down the line, with a strong portfolio to back it, will prove advantageous.
​Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra Group, felt all was not lost and said, “We do not see the EV space heating up as it does not reflect in numbers. We think EVs in the personal space will take two-three years to pick up. It is going to be large in the commercial space and we have our three-wheelers and small four-wheelers’ portfolio for that. 

Jejurikar however, does not downplay the EV market and said, “We do not have any EV SUVs at the moment and plan to be ready with our portfolio in two-three years. Some will be ICE-derived models while others will be born-electric products. Our strategy is to focus on making us future ready. So, when we are out there, we should be there with the latest products, latest technology and wow customers with something which will augment our brand value. The XUV300 will be the first SUV to undergo the EV transformation with a launch in 2023.”