Mahindra will be launching the all-electric version of the XUV300. The automaker will be launching the XUV400 EV in September of this year and the brand has revealed that it has received a massive amount of Rs. 1,925 crores from British International Investments for a new electric vehicle company. The new company from Mahindra is valued at nearly 9 billion dollars and its debut product will be the XUV 400 EV.
Mahindra XUV400 EV will be pitted against the TATA Nexon EV:
The XUV 300 is a little under 4 meters in length for availing excise duty benefits, the 400 is expected to be a bit longer and will measure in at 4.2 meters. This is largely due because the government does not have as many excise benefits based on the length of electric cars.
Given the XUV400 is larger, it will be more comfortable and spacious than the Nexon EV. This will lead the new car to compete against the Kona, MG eZS, and other cars. The car will be priced at Rs. 15 lakhs and will offer a range of 375 KM for the top-tier variant while the lower-end variants will offer 250-300 KM of range per charge.
The XUV400 will arrive with a similar set of features as the XUV300 and a bunch of other cars like the KUV100, electric versions of the XUV700, and the Thar could also be rolled out from the new EV company.
The Indian automaker has had a big head start over Tata Motors and other car makers in India when it came to EVs but the carmaker did not take much advantage of it until now. The latest electric company, valued at a 9 billion dollar valuation will drive the automaker’s EV blitz.
Similar to Mahindra, TATA Motors will hive off its electric vehicle business, in October 2021, TPG will commit a billion dollars into TATA’s business at a valuation of over 9,000 crores. This competition will benefit the customers immensely.
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