Mahindra is back in the EV segment! Electric XUV400 to be launched in September

Electric vehicles are the new sensation and their market is growing very fast. Tata Motors is currently leading in India in electric four wheelers. But there was a time when Mahinda first entered this category. The company had also launched two electric cars, but they were discontinued due to poor response. However, once again Mahindra is ready to enter this segment and may launch an electric four wheeler in September this year.

The company on Friday detailed its plans to enter the electric segment with the eXUV400. The vehicle is expected to be launched in September 2022. This car maker is planning to invest more than $ 1 billion to strengthen itself in electric vehicles.

Mahindra has also announced the formation of its new EV subsidiary company. The company has also received an investment of Rs 1,925 crore from British International Investment (BII). Both the companies will work together to strengthen themselves in this segment. Under this partnership, BII will invest money at a valuation of up to Rs 70,070 crore. This money will be invested in Compulsory Convertible Instruments. This will give BII a stake of between 2.75 per cent and 4.76 per cent in Mahindra’s new EV company.

Rajesh Jejurikar, executive director of the Auto and Vehicles sector at Mahindra & Mahindra, has told that the company is working to occupy a leading position in the electric SUV segment in the country. The company is planning to launch electric cars with the best design, latest technology and great battery range in the coming days. The company has told that it will introduce the concept model of its 3 electric cars in the UK on 15 August. At the same time, there is a preparation to introduce Mahindra XUV400 in the Indian market in September. Earlier, Mahindra had teased the interiors of the cabin of an electric SUV. Then it was not told which model he is associated with. It is believed that the company may choose a similar design for all three Mahindra SUVs.