- 16 Aug 2022
- ICICIdirect Research
M&M UNVEILS FIVE ELECTRIC SUVS WITH TWO PARALLEL BRANDS IN E-MOBILITY
M&M - 3004 Change: 38.35 (1.29 %)News: M&M unveiled five electric SUVs under two brands based on the purpose-built INGLO platform. It launched two EV brands –Iconic brand XUV with the Twin Peak logo and the all-new electric-only brand called BE. These electric SUVs will be based on the modular INGLO platform, using VW MEB (Modular Electric Drive) platform components. First of these E-SUVs to be launched towards end of 2024, starting with the Indian market. In a separate development, Volkswagen Group and M&M has signed a Term Sheet on supply of MEB Electric Components for Mahindra’s new Electric SUV family.
View: The E-SUV’s are currently named as XUV.e8, XUV.e9, BE.05, BE.07 and BE.09 with first four of these models to be launched between 2024-2026. All these models are based on its captive Heartcore design philosophy. These E-SUV’s will be powered by a LFP (Lithium-Iron-Phosphate) cell chemistry with 60-80 KwH battery capacity with 175 kw fast charge and will offer charging up to 80% in less than 30 minutes. Company expects that by 2027, a quarter of the SUVs it sell will be electric. With strong commitment towards electrification, company is well poised to further consolidate its leadership positioning in the SUV space domestically.
Impact: Positive.