Mahindra Electric is currently the only car maker in India with electric cars in its product portfolio and the company has now confirmed that it will be launching two new electric cars in India by 2019. Mahindra Electric is currently working on increasing its production capacity from 500 units/month to 1000 units/month which is expected to be done in next 4-5 months confirms Mahindra. Dr. Pawan Goenka also confirms that the by 2019 the company will have a monthly capacity of manufacturing 5000 units every month. Mahindra’s electric journey started about seven years back with the acquisition of Reva brand and since then the company has managed to sell over 4000 electric cars in India. The company has invested Rs 500 in its electric vehicle business and is committed to invest another Rs 500-600 crore in this space in next 3 years.
Addressing a press conference last week, Dr.Pawan Goenka confirmed that the company will be launching two new electric cars in India based on the existing platform. He said “ Mahindra will launch two new electric, first one will come by end of 2018 and the second one will be launched by end of 2019, we are very excited for both”. Both of these products will be on existing platforms, while the next electric car from the company would be the electric version of Mahindra KUV 100 it will be interesting to see the next product if it would get to see the electric version of Scorpio or XUV 500 or would be a new product on the existing platform.
Mahindra owned Pininfarina brand is also working on the development of a high-end, Tesla rival which will make its global debut ‘soon’ as per Mahndra. The premium electric car development is in progress but the car will not be launched in India till there is enough demand confirms Dr. Goenka.
If India needs to meet the goal of 100% EVs in India about 3.5 lakh units of electric cars needs to be sold every month. Expect heavy investments from every automaker to on the electric front to stay ahead in the electric race. Every electric vehicle chargers available right now is supplied by Mahindra & Mahindra (M&M) but going forward expect EV chargers becoming a business of its own once more players enter the EV race, and once that happen M&M will withdraw from providing electric charging facilities. EESL tender, cab aggregators shifting its focus on opting for electric cars will see surge in demand for EVs and charging stations in India. Tata Motors too has entered the EV segment by bidding and winning the EESL tender.
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