Mahindra Electric will be launching 2 new electric cars in India by the year 2019. The first car would be launched sometime in 2018, while the other one will be unveiled by the end of 2019. Both these cars can be showcased as concepts at the 2018 Auto Expo.
It is not yet known whether these will be all-new models or will essentially be based on existing Mahindra cars. However, our sources reveal that one of these two launches will be based on the Mahindra KUV 100. It will likely borrow the electric powertrain from the e-Verito sedan, though there would be some alterations made to improve efficiency. The electric compact SUV will boast of a driving range of around 150 km on a single charge. Hence, the Mahindra KUV100 electric is expected to offer the best driving range across the company’s portfolio.
Dr Pawan Goenka, Managing Director of the Mahindra & Mahindra Group, announced that the company will be investing Rs 600 crore over the next 3 years to develop these two new electric cars. In addition to R&D, these funds might also be used to expand production capacity at its manufacturing facility in Bangalore. The company currently produces 100 electric cars per month. However, this will soon be increased to 1,000 per month. Additionally, the carmaker is targetting a capacity of 5,000 units by the end of 2019.
Mahindra has been actively participating in the electric car scene in India. It is currently the only carmaker that has a portfolio of all electric cars. However, the current demand for EVs in India isn’t motivating enough. Mahindra sold just 600 units of its electric vehicles in the first 7 months this fiscal year.
But the company is optimistic about the future of the electric car market in India. It is thus taking steps to ensure that it leads the segment, even after the demand and supply rises. The company recently announced a partnership with Uber to strengthen its customer base and expand presence of its electric cars across the country.