M&M showcases comprehensive plans in EV domainM&M - 1698 Change: -4.50 (-0.26 %)
News: M&M hosted its EV day yesterday. The company shared comprehensive plans with timelines in the EV space and would want to stick to its core SUV strength (4.3-4.7 m) in the e-mobility space. Key takeaways include: (i) target to sell 20-30% of its SUV portfolio as electric vehicles by 2027 i.e. 2 lakh units, (ii) entire EV capex outlay pegged at Rs 9,000-10,000 crore, which includes Inglo platform shared by all upcoming born electric cars, manufacturing set-up, cost of developing products including XUV 400 (specific spend at Rs 600 crore), (iii) upcoming collaborations in the charging infra space, (iv) born electric vehicles supporting all new age tech features including ADAS level 2+ with battery size pegged at 60-80 KwH with targeted certified range of 652-675 km.
View: The company is making serious progress in the e-mobility space and remains committed to electric transformation. The new model launches, however, are running a tad late vs. competition with key monitorable, going forward, being the pricing of electric vehicles and consequent market share gains by the company.