With just about three weeks left to go for the reveal of Mahindra & Mahindra’s first-ever born-electric concepts, the utility vehicle major has been releasing teasers of its upcoming eco-friendly range of electric SUVs. Now, a new teaser video shows five new SUVs that will be unveiled on August 15.
The big-ticket event will take place at the brand’s newly opened Mahindra Advanced Design Europe (MADE) studio in Oxfordshire, UK, headed by chief designer Pratap Bose, and instrumental in designing these concepts. The 'Born Electric' tagline implies that all the SUVs have been designed as electric vehicles from the ground up.
August 15 will see it unveil its design philosophy and launch of its all-new purpose-built EV platform, while also detailing its brand architecture with the product line-up and timelines for 4 BEV models by FY2026 in the SUV segment. It will also illustrate the futuristic Human Machine Interface (HMI) technologies, centered around customer experiences, that it will apply in its vehicles.
Over the past few years, M&M has made key announcements or product reveals on or around India’s Independence Day. On August 15, 2020, M&M had revealed its all-new Thar and a year later, on August 14, 2021, the XUV700 went on sale. Both models have since gone on to become key sales drivers for the company.
In the latest video teaser issued by the UV major, of the five SUVs showcased, four seem to have a coupe-SUV body style. The fifth one looks like an electric version of Mahindra’s current flagship, the XUV700. The video shows the five upcoming Born Electric SUVs in profile, albeit as silhouettes.
A previous teaser, which also mentioned the August 15 reveal date, showed three SUVs as silhouettes as well. However, what was clear in them were the C-shaped LED signature lamps, both at the front and back. This though is not visible in the latest teaser.
Mahindra targets 200,000 e-SUV sales by FY2027
Mahindra, which can be credited for plugging into electric mobility years ahead of other OEMs in India, has previously sold the e2o, e2o Plus and eVerito in the country. Now, with demand for electrified mobility growing in India, which saw over 210,000 EVs across segments sold in April-June 2023, the company is upping the ante, the first indications of which will be revealed on August 15. By FY2027, the company expects its electric SUV penetration to be 20-30% of its overall SUV portfolio, which translates into around 200,000 units per annum. M&M will takes the covers off the electric XUV400 in September 2022, with deliveries slates to commence between January-March 2023.
M&M’s enhanced focus on EVs received a massive boost when on July 8, the company inked a binding agreement with the British International Investment (BII), the UK’s development finance institution, to invest up to Rs 1,925 crore each into a wholly-owned newly incorporated subsidiary of M&M which will focus on four-wheeled electric vehicles. BII is to invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs. 70,070 crores, resulting in 2.75 percent to 4.76 percent ownership for BII in the EV Co. The total capital infusion for the EV comaany is envisaged to be approximately Rs 8,000 crore / US$ 1 billion between fiscal 2024 and fiscal 2027 for the planned product portfolio.
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