The country’s leading automaker Mahindra on Thursday announced that it will launch a full electric version of the XUV300 SUV in India in the third or fourth quarter of 2023. Also, the domestic auto maker has said that it will reveal its complete EV strategy in the near future. The Mahindra XUV300 electric SUV will come as one of the flagship products from the domestic automaker major.
lagged behind others
Mahindra has always had the advantage of being the first in the Indian EV space. However, the lack of product innovation and aggressiveness pushed the carmaker back in the segment. While other automobile brands like Tata Motors, Hyundai and MG Motor took the lead. Maruti Suzuki is also preparing to launch its WagonR EV (WagonR EV) in the Indian market soon. However, with the new electric vehicle lineup, Mahindra is aiming to regain its position.
They will compete.
The domestic automaker, which is famous for making SUVs, introduced the e-KUV100 (e-KUV100) at the Auto Expo a few years ago. However, the production of the electric variant of this micro SUV is yet to start. The Mahindra XUV300 EV which has been announced to launch in 2023 will rival the likes of Tata Nexon EV, MG ZS EV and Hyundai Kona EV.
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Sells e-Verito.
Mahindra currently sells its e-Verito compact electric sedan. While this EV is available to government agencies and fleet operators, it is not available to private individual buyers.
Focus on EV.
Mahindra Group Managing Director and CEO Anish Shah has also said that the automaker will focus on the electric three- and four-wheeler segment as of now. He also said that a detailed EV product strategy would be announced soon. The automaker said that its upcoming EVs will include some models that are available in ICE (Internal Combustion Engine) variant. This suggests that there could be a possibility of e-KUV100 launch in the near future.
Will reveal the full plan soon.
In his statement, Shah said, We have already announced our plans to bring electric cars to India. In the third or fourth quarter of FY23, we will launch the full electric XUV300. We are looking forward to the introduction of electric vehicles in India. I am in the process of announcing our portfolio plan and we will let you know more about the same soon.
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