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The home-grown automaker Mahindra & Mahindra will present an all-electric car at the Auto Expo 2020, which will then be priced in the country under Rs 9 Lakhs (ex. showroom). In all probability the new all-electric vehicle will be the eKUV100. Additionally, Atom, India's first electric quadricycle, is expected to be launched at the 2020 Auto Expo. Mahindra Atom is designed to ensure last-mile connectivity that is identical with Alfa Mini & Treo, currently available on the Indian market.
Mr. Pawan Goenka, Managing Director, Mahindra & Mahindra, said the future is about electric mobility and therefore the company is working on various products to boost mutual mobility. He further said that pricing is a crucial aspect and thus Mahindra is launching the Lakh SUV sub-9.
The company based in Mumbai is also looking forward to the unveiling of the Mahindra XUV300 into a hybrid version by 2021. On a single charge, it is said to have a driving range of 300-400 km. It has been preparing a Rs 1000 Crores investment for research and development purposes in the EV market. As a result, Rs 500 Crores will be spent in setting up a high-powered battery charger, batteries, and other facilities at Chakan while the remainder of the capital will be used at Mahindra Electric's Bengaluru plant.
Mahindra Electric, the company's EV arm, has already sold almost 27000 + vehicles across the three- and four-wheeler market. The Mahindra e-Verito sedan is priced at Rs 12 Lakhs for personal buyers.
As it is quite clear that EVs hold the key for the future, Mahindra is moving towards targeting a mutual mobility goal of 50 percent by 2030, while analysts have projected 35 percent of vehicle consumption since shared by that time. For buyers on the Indian market, the company has planned to introduce 2-3 new vehicles in the e-mobility space in the near future, which could be launched in a phased wise manner by 2022.