Exclusive: M&M readies updated XUV 400, XUV 300 EV in 2024 to challenge Tata Motors' Nexon EV

With a slow start to its EV business so far, Mahindra & Mahindra is readying itself for an EV version of its upcoming facelifted XUV 300, which will help the company take on the segment leader Tata Nexon more aggressively.  

The focus will be on its twin peaks ICE converted EVs in 2024, before it starts rolling 'Born electric vehicles' on its Inglo platform from 2025, say people in the know.

Sources say an updated XUV 400 with interior changes is likely to be first off the mark in January 2024, followed by the newly designed XUV 300 EV, which is scheduled for a June 2024 launch, before all new EVs based on the Inglo architecture hit the roads in 2025. This is when the mainstream players Maruti Suzuki and Hyundai Motor India are also likely to have their own EV SUVs on the road.

With limited success for the XUV 400, M&M is banking on the XUV 300 EV to challenge Tata Nexon with its multi-powertrain strategy. Just like Nexon, the XUV 300 will sport diversified engines – petrol, diesel, and an EV.

People in the know say that the freshly coined XUV300 EV will be positioned below the existing XUV400 EV. The XUV300 EV will be positioned in the price range of Rs 16-17 lakh (ex-showroom), which means it will have a gap of around Rs 2 lakh between the XUV400 which has a bigger battery and boot. Expect the price announcement of the XUV300 EV to take place by June this year. The XUV300 facelift with petrol and diesel engines will launch before the XUV300 EV, most likely by February 2024.

In an emailed response, a  Mahindra & Mahindra spokesperson said that the company does not comment on speculations.

The XUV 300 EV is likely to be powered by a 35 KW Farasis battery which is expected to have a range of about 375 kms per charge. The LFP battery sourced from Farasis is also understood to be about 20% lower in cost as compared to the LG Chem cells, thereby helping M&M offer an optimum solution for early movers in the electric vehicle space.

According to Autocar India, the XUV300 EV will sport a new-look drop-down LED daytime running lamp along with a completely redesigned bumper and headlamp assembly. It will also get a new two-part grille with a larger central air intake as well. At the back, there will be a completely redesigned tailgate with full-width LED light bar. The XUV300 EV’s overall look will be much smoother and in-line with newer SUVs in the market. It will also have C-shaped taillamps, and the registration plate will be moved on the bumper instead of on the tailgate. There will be a new set of alloy wheel designs as well depending on the variant.

On the inside, there won’t be major differences. The dashboard will have mild alterations to accommodate a much bigger infotainment screen of 10.25 inches. The AC vents on the XUV300 will be repositioned to accommodate the new infotainment screen and there will be minor changes to the switchgear as well along with the redesigned centre console.  The Nexon EV has taken the screen size game to the next level with the top-variant getting a massive 12.3 inch infotainment screen. Mid-spec variants of the Nexon EV make do with a 10.25 inch screen. 

On the cargo side of things, the XUV300 EV will be based on the under-four meter long XUV300 facelift, which means it will have a cargo space of around 257 litres and not the larger 378 litre boot seen on the XUV400 EV. The 257 litre boot space would still fall short of the 350 litre capacity that’s on the Nexon EV.

M&M had showcased a portfolio of Born EVs on the Inglo platform in the United Kingdom in August of 2022, and it also showcased a near production design version of its Be05 SUV at Capetown on 15 of August 2023.

Mahindra & Mahindra has committed Rs 10,000 crore to its electric vehicle business and has already carved out a separate subsidiary Mahindra Electric Automobile Limited or MEAL, with its independent P&L with marque private equity investors on onboard.