Mahindra & Mahindra is reportedly planning to launch an electric version of one of its best-selling SUVs – Scorpio by 2019.
According to a report Mahindra is currently testing electric variant of the SUV on the Indian roads. ET notes that the company, which was the first mover in the electric vehicle domain, is launching its new products rapidly, believe the industry experts. The automaker is aggressively partnering with new and existing players for producing electric vehicles locally and globally.
With the Centre’s announcement of implementing electric vehicle by 2030, the auto makers are getting battle ready to match the market’s needs and face the competition.
Mahindra & Mahindra has already announced its plan to launch two electric cars by 2019, which are likely to be based on existing models from the current portfolio. The Indian auto manufacturing giant has already announced its plan to invest a sum of Rs 4,000 crore in next 3-5 years. Out of the Rs 4000-crore, the company has already invested close to Rs 500 crore in the business.
Apart from this, the company is also looking to collaborate with other players to increase the adoption of electric vehicles as well as deliver additional value to its customers.