Mahindra announced last year that it plans to bring in 16 EVs to the Indian market in the next 7 years. These 16 EVs include 8 electric SUVs and 8 electric light commercial vehicles. The first SUV, though, will be launched as early as next financial year and yes it will be the XUV300 making the transition. The XUV300 EV will be launched in Q3/Q4 of FY22-23, Mahindra confirmed during the announcement of the Q3 financial results. Veejay Nakra, CEO, Mahindra and Mahindra Automotive said, "We had already announced our plan about bringing in electric cars to India. In Q3 or Q4 of FY23, we will launch the all-electric XUV300. We are in the process of announcing our portfolio plan as regards EVs in India and we'll tell you more about it soon."
The company is making an investment of Rs. 3000 crore towards electric vehicles and this is from a total of Rs. 13,000 crore that it plans to invest in the rest of the businesses which includes automotive, Farm Equipment business among others. 4 SUVs from the company's current portfolio will make the transition to becoming all electric models, while there will be 4 all new electric SUVs that will be introduced in the company's portfolio.
The eXUV300 was showcased at the 2020 Auto Expo and we got a glimpse of what the car would look like. In fact, the company back then had said that the XUV300 electric was powered by an electric motor driving the front wheels likely churning out 130 bhp. The power to the motor will be provided by a 40 kWh battery pack capable of delivering a range of above 300 km on a single charge.
When launched, it will directly rival the Tata Nexon EV and even MG's new SUV which is targeted to be launched between Rs. 10-15 lakh. We wait to know more about the electric avatar of the XUV300.
