India’s leading utility vehicle maker Mahindra and Mahindra on Tuesday said the company is buoyant on the electric market and is planing to equip all its crossovers and SUVs with electric powertrains in the future.
As the first step in part of its plans, Mahindra announced that it will launch the electric KUV100 in a year from now and said the company is betting big on electric.
“We will be launching the KUV Electric one year from now. The drive towards electrification is visible, whether it is 20 per cent or 100 per cent, one does not know what the penetration will be, but Mahindra will be prepared to face the situation,” Pawan Goenka, MD, Mahindra and Mahindra, said while launching the new KUV 100 NXT (at Rs 4.39 lakh to 7.33 lakh).
The company has already committed an investment to the tune of Rs 3500 crore to Rs 4000 crore on future electric vehicle portfolio and technology. Its electrification plans, however, will be restricted to compact SUVs like KUV 100 and s201 platform vehicles.
For now, the company is not planning to bring electric power terrain in bigger SUVs like Scorpio and XUV500.