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Systematix Research Report
Mahindra and Mahindra Ltd. showcased its all-new electric vehicle platform (five products under two brands), and increased scope with Volkswagen for EV component purchase yesterday at an event in the UK. Key takeaways are-
M&M is looking to launch five new EVs, XUV.e8, XUV.e9, BE 05, BE 07, BE 09, starting December 2024 till October 2026,
the company would be using lithium iron phosphate cell chemistry (60-80 kilowatt hour), and offering both, rear-wheel drive and all-wheel drive with motor capacity of 170-210 kilowatt hour and 250-290 kW, respectively, and
M&M has signed a definitive agreement with VW to buy components for its E-SUV (committed total volumes of 1 million plus units over lifetime).
M&M along with VW would also be exploring opportunities in e-mobility in India, including cell manufacturing. While the new platform launch is only from CY24, M&M will likely launch its first E-SUV (XUV 400) in Q2 FY23.
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