Mahindra & Mahindra (M&M)‘s new electric vehicle (EV) platform could be a game-changer as it provides high-end features at prices comparable to traditional internal combustion engine (ICE) vehicles, according to experts.
“We believe M&M has addressed the shortcomings of an EV in India, which have impacted the adoption rates so far, with: a real-world range of 500-plus km, acquisition price points at the proximity of ICE peers and top-end/luxury comparable features making it very aspirational and capable of using it as a primary care by customers,” said Nomura.
The Indian automaker has launched its EVs — BE 6e at ₹18.90 lakh and XEV 9e at ₹21.90 lakh on its INGLO platform. The EVs are expected to disrupt the market and increase vehicle penetration.
Brokerage firm Motilal Oswal stated that the newly-launched EVs will establish M&M in the EV market in the coun;try.
“M&M’s indigenously-designed INGLO platform seems to be versatile and scalable, as it is modular, wherein multiple products can be launched with different positioning from the same platform. We were particularly impressed with the multiple first-in-class features offered in both these products. These features, combined with the introductory pricing, make them a truly strong value proposition for customers,” said Motilal Oswal.
Competitive pricing
Automobile experts have also pointed out that competitive pricing of the vehicles will increase the EV penetration in the country.
The company has allocated ₹4,500-crore investment out of the total ₹16,000-crore investment in the F22-F27 cycle including powertrain development, two product top-hats including software and technology, and manufacturing capacity. Further, M&M will roll out its strategy for its electric-origin SUVs in January 2025.
“These two products, built on our grounds-up revolutionary electric origin architecture INGLO and powered by MAIA, the fastest automotive mind in the world to embody Mahindra’s vision of Unlimit India, are setting new global benchmarks,” said R Velusamy, President - Automotive Product Development, M&M, and Joint Managing Director, Mahindra Electric Automobile.
However, the lack of EV charging infrastructure in the country could impact the sales of the born EVs.
“One notable shortcoming for both models is that both lacked thigh support. BE 6e lacked headroom for rear-seat passengers. While the pricing is certainly competitive, it remains to be seen how customer interest plays out, given the lack of adequate charging infrastructure in the country,” added Motilal Oswal.