New Delhi: Mahindra is wanting to claw back its early mover advantage in the EV space with its new wholly owned subsidiary of M&M that will be newly incorporated (“EV Co.”). Under this subsidiary, British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) have entered into an agreement to invest up to Rs.1,925 crores each.
The focus would be on pure electric SUVs and the car-maker will showcase not one but five of them on August 15th. Its first pure electric SUV would be the XUV400 which would be coming in later this year but there are far bigger plans to have a complete range of electric SUVs at different price points including at the premium end.
The five electric SUVs are born electric and by that, they have been developed from the ground-up as an EV hence will have packaging advantages too including more space plus more styling indepence. One of the five SUV concepts would be based on the XUV700 coupe while the other concepts would be smaller and aimed as a more affordable electric compact SUV.
Not much has been revealed but all the concepts have a C-shaped lighting signature while also showing what the eventual production version would be like. Mahindra had the early mover advantage when it had the e2o and e2o Plus but Tata Motors with its Nexon EV entered the market at the right time and has captured that space which Mahindra is now keenly looking at.
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