Mahindra unveils 5 new electric SUVs

Mahindra & Mahindra has unveiled five new electric SUVs as part of its INGLO electric vehicle platform. The first of these e-SUVs will be launched towards the end of 2024 starting with the Indian market.

The carmaker unveiled two new brands, created specifically to house the company's EV portfolio – XUV with the Twin Peak logo in Copper and the all-new electric-only brand called BE.

The five new electric SUVs include the XUV.e8, XUV.e9, BE.05, BE.07 and BE.09, the automaker says in a statement. The first four of these are to be launched between 2024 and 2026.

This comes a month after the auto giant raised ₹1,925 crore from British International Investment, the UK's development finance institution, for its newly incorporated EV subsidiary. The company plans to invest $1 billion in its EV business between FY24 and FY27.

"By 2027, we expect that a quarter of the SUVs we sell will be electric," says Mahindra & Mahindra managing director and chief executive Anish Shah.

Mahindra's vision of Born Electric is underpinned by the future-ready INGLO platform, two new exciting brands and the Heartcore design philosophy, says Rajesh Jejurikar, executive director – auto and farm sectors, Mahindra & Mahindra.

The automaker claims its INGLO platform offers a significant reduction in underbody weight, leading to one of the lightest skateboards. It also encapsulates progressive battery technology, platform architecture, brain power and human machine interface.

Mahindra & Mahindra also expanded its partnership with The Volkswagen Group. Both companies signed a term sheet on the supply of "MEB electric components" for Mahindra's new electric platform INGLO.

The cooperation intends to have a volume of more than one million units over lifetime and includes the equipment of five all-electric SUVs with MEB components.

The term sheet covers all major commercial and technical terms along with a path to the potential localisation of the battery system. The final supply agreement will be negotiated by the end of 2022.

"The signing of the techno-commercial term sheet is a significant step forward in our partnership with Volkswagen. Our purpose-built INGLO platform offers unmatched potential for growth and further customization for developing new and innovative products, not just for India, but for global markets," says Jejurikar.

The two companies will explore further opportunities for collaboration, opening the perspective towards a broader strategic alliance to accelerate the electrification of the Indian automotive market.

At the 2021 climate summit in Glasgow, India committed to allowing only 100% zero-emission vehicles from 2035 onwards. With around three million new vehicles per year, India is one of the five largest automobile markets in the world and along with China, the only region to record an increase in new registrations in the first half of 2022. The electrification of the passenger car segment is expected to gain significant momentum in the coming years.