Mahindra e-KUV100 will be on the Indian streets by the end of 2019.
Mahindra is planning the launch of Mahindra electric-XUV300 early in 2020.
The Mahindra-badged electric Ford Aspire could be ready for launch by 2021.
With the Government of India announcing massive GST concessions on the manufacture and use of electric vehicles, the demand for the same is increasing manifold. Mahindra, a market leader as far as electric cars are concerned, is focusing on launching three new electric vehicles, namely Mahindra e-KUV100, Mahindra e-XUV300 and Mahindra e-Ford Aspire to support the Mahindra e-Verito that is already available today. Mahindra had to discontinue another electric vehicle, the E20 because of its inability to satisfy the strict safety norms.
As of now, all Mahindra electric vehicles work on internal combustion engines. For the future, Mahindra is developing a dedicated EV platform to manufacture electric cars alone. Pawan Goenka, MD, Mahindra confirms that it will take around three and a half years to introduce these products.
The focus today is shifting towards the manufacture of electric four-wheelers. The 5% GST rate and the 5% reduction in the customs duty on Li-ion cells, there will be parity between the shared mobility service providers for electric vehicles and diesel/petrol cars. The Government has reduced GST rates on electric vehicles from 12% to 5% and on EV chargers from 18% to 5%. This step can end up boosting the electric vehicle industry.
Mahindra has various EV projects in the pipeline and is contemplating on ramping up its capacity levels. Goenka has announced that their Chakan plant is moving ahead with full steam after the Rs 200 Crore investment in it. This plant manufactures critical components for electric vehicles such as motor, EV battery, transmission systems, and power electronics. However, Goenka also points out that maintaining a balance between EV and internal combustion engines is crucial for the automobile industry.