Indian automaker Mahindra & Mahindra in an investors con call has confirmed that the company will be launching four all-new vehicles in the passenger vehicles segment in the upcoming 2018-19 financial year. Mahindra will begin the year by launching its U321 MPV in April 2018 and will be followed by Mahindra S210 crossover vehicle that will underpin the Ssangyong Tivoli’s platform. The other two products would be aimed at catering to a niche segment says the company and will be the Mahindra badged G4 Rexton SUV that was recently showcased at the Auto Expo 2018. Apart from this Mahindra has also confirmed it will launch another niche vehicle but was that hinted towards Mahindra KUV100 electric or another all-new product is yet to be confirmed. Either way, Mahindra will launch its KUV100 electric SUV in India in 2018 as confirmed by Dr. Pawan Goenka at the launch of Mahindra KUV100 NXT and Auto Expo 2018.
Mahindra also confirmed that it will space out the timelines of its new products evenly throughout the year and apart from these passenger vehicles, the company would also be launching an ICV in FY19.
– Mahindra U321 MPV
– Mahindra S201 Crossover vehicle
– Mahindra badged G4 Rexton SUV
– Mahindra KUV100 Electric SUV
Mahindra also has a fleet of electric vehicles in its portfolio and will also go aggressively to promote the use of electric vehicles in the country. Mahindra believes that EVs are likely to gain acceptance first in Commercial segment, both in load and passenger segments before the mass acceptance in passenger vehicle segment. Within commercial passenger segment, 3Wheelers and buses are likely to be the early adopters followed by 4- wheelers. With many states talking and announcing initiatives around electric mobility will increase the pace of adoption of EVs. Mahindra also said that “Continuance of benefits under FAME is critical for continued adoption in these segments.”
Mahindra has confirmed the participation in the second round of electric vehicles procurement tender by EESL as and when government notifies it along with a huge investment of Rs 500 – 700 crore to expand the production at the Mahindra Electric plant in Bengaluru.
Come 2020, BS-VI norms will be implemented across India and all the automakers will gradually shift towards the production of BS-VI compliant vehicles much before the timeline. Mahindra says that it is on course to meet the BSVI deadlines as set by the Government (2020) and would also use the opportunity, not only to upgrade the engines (e.g. new 2LT engine), but also to upgrade the entire product experience.
Anand Mahindra, Chairman, Mahindra Group also confirmed that Mahindra will invest another Rs 500 crore in the state of Maharastra for which his company has “executed an agreement with the Government of Maharashtra for an investment of Rs 500 crore under the new electric vehicle policy.”
The year 2017 was the year of consolidation for the company and now expect Mahindra to be very aggressive in its product strategy and venturing into popular segments to increase its market share in India.
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