Mahindra will begin launching a wide range of new EVs derived from existing ICE models this year. After the eKUV100 and eXUV300 that debuted at Auto Expo 2020, Mahindra EV models based on the Scorpio (Mahindra Z101), XUV500 successor (Mahindra W601), and Marazzo platforms may follow, as per a new report from The Economic Times.
Rajesh Jejurikar, Executive Director, Mahindra & Mahindra, has confirmed that the company plans to invest an INR 3,000 crore in the EV business over the next three to five years. The company plans to convert 30% of its sales to EVs by 2027-2030. By 2025, it wants to achieve a leadership position in the electric SUV business.
As we prepare ourselves for the future, we have been talking about IC engine products converting to EV, and we have an XUV300, which is in the pipeline. And there are a couple of other projects that we will be kicking off to leverage that opportunity. And that will really be the medium-term strategy.Rajesh Jejurikar, Additional Director & Executive Director at Mahindra, on the EV strategy during the Q3 2021 earnings call last month.
Mahindra has identified three categories of EVs it wants to focus on. The first category of Mahindra EV models is commercial electric vehicles like electric three-wheelers (e-ALFA, Treo, Treo Zor, etc.) and electric quadricycles (Atom).
The second category of Mahindra EV models is ICEV-BEV conversions, and this is where the eKUV100 and eXUV300, as well as the potential eScorpio (Mahindra Scorpio electric), eXUV500 (Mahindra XUV500 electric), and eMarazzo (Mahindra Marazzo electric) fit in. The company will begin making concepts based on Scorpio, XUV500/XUV500 successor, and Marazzo platforms after executing the eKUV100 and eXUV300 projects, as per the report.
The third category of Mahindra EV models is dedicated EVs or, as company officials say, “born EVs.” These models are still a few years away and unlikely to enter showrooms before the middle of the decade. “The born EV approach is really going to prepare us for a future which will go beyond ’25, ’26,” Jejurikar said in the Q3 FY2021 earnings conference call on 5 February 2021. The company will develop two new skateboard platforms.
In a skateboard platform, the battery pack, the motors, the suspension system, and other core components of the vehicle are incorporated into it, and this frees up a lot of space in the cabin. Mahindra North American Technical Center (MNATC) will develop Mahindra’s skateboard platforms, and Automobili Pininfarina (APF) will design EVs utilizing the same. Both will likely work in close collaboration with Mahindra Research Valley (MRV) on these projects.