Mahindra Set To Unveil Two ‘Born Electric’ SUVs As Part Of EV Overdrive

Mahindra & Mahindra Ltd. is set to unveil two “born electric” SUVs later this month as part of an EV wave that’s set to hit the world’s third largest automotive industry early next year. 

India’s biggest SUV maker by revenue will debut globally the XEV 9e and BE 6e in Chennai on Nov. 26, according to an exchange filing on Monday. While the XEV 9e is a luxury offering, the BE 6e is likely to be a 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 said. 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.

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, making 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 Mumbai-based automaker stays on its diesel ways. The company plans to invest Rs 12,000 crore in its electric mobility arm, Mahindra Electric Automobile Ltd., which counts British International Investment Plc and Singapore’s Temasek Holdings as investors.

The capital expenditure will allow Mahindra to expedite its slow transition to EVs 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 mass-market electric SUVs by larger rivals Maruti Suzuki India Ltd. and Hyundai Motor India Ltd. in early 2025.

“Our first EV, which is a midsize SUV, is ready. It will be (on display) at an European auto show on 4 November,” RC Bhargava, chairman of India’s largest carmaker, told NDTV Profit during a post-earnings chat on 30 October. The vehicle will be showcased at the Bharat Mobility Global Expo in January 2025, with production slated to begin in April. The car is likely to hit the showrooms in June.

Hyundai India plans to unveil the Creta EV—also a midsize SUV—at the biennial auto show in New Delhi as part of its wider electric mobility plans in the country. While the details are scarce, the car is likely to be positioned below the Kona in the Rs 20-25 lakh price bracket.