Mahindra will unveil the XUV400 Electric in about 2 months from now, built based on eXUV300 concept
Mahindra will make a grand re-entry into the mainstream EV segment with the unveil of the XUV400 Electric, this September. Based on the eXUV300 concept, the XUV400 Electric will be Mahindra’s first EV venture after not tasting success with the REVAi, e2o, and eVerito.
The upcoming EV will not be restricted to the current XUV300’s under-4-metre length but rather be longer at around 4.2 metres to accommodate the electric powertrain.
Due to the addition of the electric powertrain, the SUV won’t come cheap. We expect nearly double the price of the current XUV300.
To make up for the price and to stand out from the crowd, Mahindra is expected to introduce ADAS features on the car for the first time in the entry-level EV segment which now has only 2 cars – Tata Tigor EV and Nexon EV.
To spice things up, British International Investment (BII), the UK’s Development Finance Institution and impact investor has entered into a binding agreement with Mahindra to invest up to Rs. 1925 crores into a newly incorporated EV company of Mahindra.
This new EV company will see a capital infusion of Rs. 8000 crores between financial year 2024 and 27. Earlier this year, Mahindra gave a glimpse of its upcoming Born Electric platform which will soon sprawl into 3 all-electric cars, most probably, SUVs.
Conceptualised at the Mahindra Advanced Design Studio in the UK headed by Pratap Bose, the 3-car lineup will be revealed in their concept form very soon. We believe these cars will be launched under the new entity whose name hasn’t been disclosed yet.
The car maker revealed that it plans to launch as many as 13 SUVs in the next 5 years. Of these, Mahindra said, 8 would be electric. And, of the 8 electric SUVs, 4 will be completely new models and their launch will take place between 2025 and 2027, the manufacturer said.
It is to be noted that Mahindra has also signed a partnership with Volkswagen wherein it will start exploring the options of using Volkswagen Group’s Modular Electric Drive Matrix (MEB) platform and components for its upcoming electric cars.