Mahindra expects SUV buyers to power shift to EVs. Here's why
Mahindra & Mahindra has a number of very popular SUV models in the Indian market and has seen demand increasing with the launch of updated models like Thar, Bolero Neo, XUV700 and Scorpio-N. All eyes now would also be on the XUV400 electric vehicle (EV) as the Indian carmaker plans to go big on battery power. There's sense in the strategy as Mahindra expects demand for EVs to grow in the coming times, mostly powered by SUV buyers.
While small and affordable EVs are sighted by many as the way forward for an electric future for mobility in India, Mahindra is looking at combining the demand for SUV body type with the trend of going electric. “Our internal research tells us that 25 per cent of the existing SUV buyers would like to consider an electric SUV as their next purchase," Rajesh Jejurikar told news agency PTI. “The research also tells us that over the next 2-3 years we will see this kind of transition happening."
Jejurikar believes that electric SUVs would pave the way forward in a more dominant manner because typically, buyers of models in this segment already own at least one other vehicle. He adds that because of this, range-related issues as well as finding charging infrastructure would be a lesser concern for such buyers than those who are looking at their first car, typically a small electric hatchback.
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As such, Mahindra XUV400 is expected to lay the foundation for the company in the world of electric mobility that remains in an infant stage in India, at least when it comes to passenger vehicles (PVs). Jejurikar says that Mahindra expects around 25 per cent of its overall SUV sales to come from battery-powered options in the times to come.
But not all of the responsibility to drive electric SUV sales up is on the broad shoulders of the XUV400. Mahindra recently unveiled five electric SUVs with launch timelines for most of these scheduled between late 2024 and through till 2026. These models would be rolled out under two brands - XUV and BE.