Mahindra is expected to launch its all-electric version of the XUV300, called the XUV400 EV, in September.
Mahindra currently has no electric vehicles on the market, but plans to launch eight new SUVs by 2027.
Earlier this year, Mahindra had entered the Indian electric vehicle market for the second time.
When the company launched its e20 and e20 electric hatchbacks in 2013, it did so for the first time.
However, they weren’t very successful and were phased out in 2019.
It is now making a comeback, having confirmed that it will unveil three electric concepts on August 15, part of the ‘Born EV’ range.
First offering of new EV subsidiary
This is the first product to be rolled out of a new EV company that Mahindra has started with an investment of Rs.1,925 crore (USD 250 million) from British International Investments (BII).
The total capital infusion for the EV Co. is envisaged to be approximately Rs. 8,000 crores / USD 1 billion between FY 24 and FY 27 for the planned product portfolio.
The funds will be utilized primarily to create and market a world-class electric SUV portfolio with advanced technologies.
This company is currently valued at 9 billion dollars, the same as what the market values Tata Motors’ electric vehicle play.
It is distinct from the XUV300 with elements such as a closed-off grille, redesigned headlamps, and bespoke alloys.
The most striking changes can be seen in the rear profile, where the electric SUV has an extra length and redesigned LED tail lamps.
The length of the machine is longer than the 4 meters required for excise duty benefits – 4.2 meters.
Since the government doesn’t offer excise benefits based on vehicle length for EVs, Mahindra could take advantage of this.
Also, it makes the car roomier with more comfort and space than the Tata Nexon EV.
Expected powertrain and features
With a single motor driving the front wheels, the electric SUV produces 150hp, slightly more than the 143hp Tata Nexon EV Max.
In addition to the XUV700’s ADAS features, the XUV400 EV is expected to have the latest connected technology.
Mahindra’s XUV400 is likely to have a similar set of features to its XUV300 sibling powered by an internal combustion engine.
Top-end models boast a range of 375 km, while lower trims are expected to deliver 250-300 km of real-world range per charge.
Mahindra could also offer it with more than a single battery pack option to compete with the Nexon EV which offers a certified range of 437km.
Pricing, competition, deliveries
About Rs. 15 lakh is expected to be the price tag.
Taking on the best-selling electric car in India, the Tata Nexon Electric SUV, Mahindra intends to compete.
The longer dimensions will help the vehicle compete with larger electric SUVs such as the MG eZS and the Hyundai Kona, two other popular electric vehicles in India.
January-March 2023 will be the delivery period for the electric XUV400.