[ad_1]
New Delhi:
Homegrown automaker Mahindra & Mahindra (M&M) will launch the electric version of its XUV300 in the country in the first quarter of the next calendar year. However, unlike the existing ICE model, the electric version will be 4.2 meter in length, which pulls it out of the category of a sub-4 meter sized SUV.“The new electric XUV300 will be launched in Q1 of the calendar year 2023. It will be a good sized product, being 4.2 meter in length,” said Rajesh Jejurikar, executive director, M&M on Monday at a virtual press conference to announce the Q4 FY22 financial results.
With a strong focus on electric vehicles (EVs), Mahindra is set to unveil its Born Electric Platform in the UK on August 15 this year. The company which aims to be the No.1 ‘core SUV’ maker in the country by 2025 has plans to launch 13 SUVs by 2027, including eight electric.
Out of the 8 electric SUVs, four will be completely new launches which can be expected between 2025 and 2027, while the other four will be based on existing products.
Recently, the automaker has also signed a partnership with Volkswagen for modular electric drive matrix (MEB) electric components such as electric motors, battery system components and battery cells.
The core brands in Mahindra’s portfolio will remain Thar, Bolero, XUV and Scorpio. The company manufactures its XUV300, Bolero and Thar in the Nashik plant and the XUV700 and Scorpio in Chakan. It is also working on multiple products for the Thar portfolio .Currently, it has a waiting period of 18-24 months for bookings of XUV700.
As of now, the only other carmaker to have unveiled its born electric platform is Tata Motors, which has showcased two products namely Curvv and Avinya for the new platform.
Supply constraints
In November last year, the company said it had committed a total investment of INR 13,500 by FY24.
On Monday, the automaker said it has invested an additional amount of about INR 1,900 crore for capacity expansion (including EVs) for the fiscal years 2022-23 and 2023-24 and aims to improve the production in the coming years.
Talking about the supply chain constraints, it said, “The basic electronic control unit (ECU) availability has improved significantly as we have diversified the supply sources. The waiting period is expected to come down with the ramping up of the capacity. The worst is over but the semiconductor shortage will remain tight for this year, until the capacity is built up. While people are booking new vehicles, they are not selling them immediately.”
Mahindra remains certain that its upcoming ScorpioN, to be launched on June 27, will end up with a waiting period. “We are ramping up for ScorpioN much ahead in advance as we are expecting a big booking for this model, but we are certain that it will see a waiting period.”
On an average, the industry has a waiting period of 6-8 months for every model.
Also Read:
For the company a core SUV has high ground clearance and high seating position, where the distance from the seat point to the ground is more than 660 mm. The SUV should have an adventure-ready capability to go anywhere.
[ad_2]
Source link
