Mahindra & Mahindra Ltd. is set to unveil two “born electric” SUVs later this month, as part of an EV overdrive that will span the rest of decade.
India’s biggest SUV maker by revenue will debut globally the XEV 9e and the BE 6e in Chennai on Nov. 26, according to an exchange filing on Monday. While the XEV9 is aimed at the luxury segment, the BE6 is likely to be the workhorse.
The cars are built on the so-called INGLO architecture, which has been crafted with “an Indian heart and a global outlook”, the filing stated. That includes class-leading safety features, performance as well as range and efficiency. The platform includes components sourced from Volkswagen AG’s MEB chassis, which forms the underpinnings of the Audi and Skoda, as well as VW’s ‘ID’ range of electric cars.
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M&M and Volkswagen had first entered into a partnership in 2022 to use Volkswagen’s EV components like motors, battery systems and cells. A new supply agreement, signed in February this year, will run over several years with a total volume of 50 gigawatt hours, makes M&M VW’s first external partner to use the unified cells technology.
The unveiling is part of M&M’s plan to launch six thoroughbred electric SUVs by the end of this decade, even as the company stays on its diesel ways. The company plans to invest Rs 12,000 crore in its electric mobility arm—Mahindra Electric Automobile Ltd.—that counts British International Investment Plc and Singapore’s Temasek Holdings as investors.
The capital expenditure will allow Mahindra to expedite its slow transition to electric mobility and catch up with rival Tata Motors Ltd., which has cornered three-fourths of India’s nascent electric car market with at least four models. M&M has one in XUV 4OO.
The unveiling also comes ahead of the launch of electric SUVs by larger rivals Maruti Suzuki India Ltd. and Hyundai Motor India Ltd. Both the cars are slated for launch in January 2025.
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