Mahindra lines up 5 electric SUVs

Mahindra said that the company acquired Reva, which although had minuscule volumes, was making the most electric cars in the world at that time.

Mahindra lines up 5 electric SUVs
The five electric SUVs – XUV.e8, XUV.e9, BE.05, BE.07 and BE.09 – are part of the XUV brand and the new electric-only BE brand. (Photo PTI)

Mahindra Group chairman Anand Mahindra on Monday said that this is the right time for the company to enter the four-wheeler market with its battery electric vehicles (BEVs) as the utility vehicle major unveiled five electric SUVs based on the modular INGLO platform.

“Today, with government support, rapid lowering of the cost of ownership, and increased consumer awareness of the environmental issues, we believe that the time is ripe and right for us to enter the four-wheeler market with our range of battery electric vehicles,” Mahindra said.

The five electric SUVs – XUV.e8, XUV.e9, BE.05, BE.07 and BE.09 – are part of the XUV brand and the new electric-only BE brand.

Among the five models, the first to be launched will be the XUV.e8 in December 2024. The XUV.e9 will be introduced in April 2025, BE.05 in October 2025 and BE.07 in October 2026. The company has not revealed the launch timeline of the BE.09 yet.

The INGLO platform, which uses components from Volkswagen Group’s modular electric drive matrix (MEB) platform, will underpin all the Mahindra EVs going forward.

“At Mahindra, we saw the electric future as far back as 1999 when we created, as an experimental project, a nine-seater electric three-wheeler, which we christened Bijlee. It was a little ahead of its time. So we could not get it to scale. But the skill that project taught us has allowed us to now take a 70% share in the electric three-wheeler market in India,” Anand Mahindra, said.

At present, the company offers cargo models like the Treo Zor and e-Alfa Cargo, and passenger models like the Treo, Yaari and e-Alfa Mini in the electric three-wheeler segment.

Mahindra said that the company acquired Reva, which although had minuscule volumes, was making the most electric cars in the world at that time.

“With the technical skills learnt from it, from our Formula E racing team and our global R&D network, what I like to call a neural network with nodes ranging from cities like Chennai, where we have the Mahindra Research Valley, to Shimane Japan, where we have our subsidiary Mitsubishi tractors, to Cambiano in Italy, to Detroit (the US) and now Banbury (the UK), because of all these learnings, I have every reason to believe that we can lead in the four-wheeler electric vehicle segment,” he said.

Mahindra & Mahindra also inaugurated its new design centre of excellence – Mahindra Advanced Design Europe (M.A.D.E) – on Monday. The facility is located at the global automotive and EV hub of Banbury, Oxfordshire. The primary objective of M.A.D.E is to conceive and create all future Mahindra EVs and advanced vehicle design concepts.

“Mahindra Advanced Design Europe is another vital node in our neural network of innovation. In 15 short months, their work has already laid the blueprint for an electrifying future. How we play our cards today will determine the way the world is shaped tomorrow,” Anand Mahindra said.

Mahindra & Mahindra and the Volkswagen Group also signed a term sheet on supply of MEB electric components for the former’s new electric SUVs. The term sheet covers all major commercial and technical terms, along with a path to the potential localisation of the battery system. The final supply agreement will be negotiated in a continued constructive and legally compliant way by the end of 2022.

“We are happy that we have identified a larger scope of collaboration between our two companies. Together, Volkswagen and Mahindra can contribute significantly to the electrification of India, a huge automotive market with ambitious climate protection commitments,” said Thomas Schmall, Volkswagen Group board of management member for technology and Volkswagen Group components CEO.

The MEB electric platform and its components are key to affordable sustainable mobility around the globe, Schmall said, adding that the partnership not only demonstrates that our platform business is highly competitive, but also that the MEB is well on track to become one of the leading open platforms for e-mobility.

“The signing of the techno-commercial term sheet is a significant step forward in our partnership with Volkswagen. Our purpose-built INGLO platform offers unmatched potential for growth and further customisation for developing new and innovative products, not just for India, but for global markets,” said Rajesh Jejurikar, executive director, auto and farm sectors, Mahindra & Mahindra.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos