Mahindra’s Electric Car Portfolio Set To Get Bigger With 3 New EVs Slated For Launch
Mahindra recently invested Rs 200 crore to upgrade its Chakan plant and make electric vehicle components
First electric car of the lot will be the eKUV100, coming later this year.
Second car will be the electric version of XUV300, which will be launched around mid-2020.
Third electric car will be an electric version of the Ford Aspire (part of the Mahindra-Ford JV), which will come in 2021.
Mahindra has revealed that its electric car portfolio is set to get bigger with three new EVs set to be launched by 2021. The Indian carmaker made the announcement while revealing their financial results for the first quarter of financial year 2019-20.
The first of these will be the eKUV100 which will be launched by the end of 2019. It was first shown by Mahindra at the 2018 Auto Expo and will mirror the KUV100 in terms of design. The second launch will be an electric version of Mahindra’s popular XUV300, which will be launched around mid-2020.
The third vehicle will be an electric car based on the Ford Aspire. This car will spawn from the Mahindra-Ford alliance and will be based on the Ford Aspire. This electric sedan will hit the streets sometime in 2021. Ford will also have a version of the same.
Currently, Mahindra’s electric vehicle portfolio comprises of only the e-Verito. The company has invested Rs 200 crore in its Chakan plant to manufacture electric vehicles and their components such as batteries, motors and transmissions.
The government of India recently cut down the GST on electric cars from 12 per cent to 5 per cent, a move that will help carmakers bring electric vehicles into the market at a lower price point.