Mahindra Charges Ahead with Rs 4,500 Crore Investment in New Electric Brands

Mahindra & Mahindra is investing Rs 4,500 crore to develop two new electric vehicle brands, BE 6e and XEV 9e. Aiming for a production capacity of 90,000 units annually, the company plans to expand to 120,000 units. Delivery starts in early 2025, targeting both domestic and international markets.

Mahindra & Mahindra has unveiled a significant Rs 4,500 crore investment aimed at advancing its electric vehicle initiative through the development of two innovative brands, BE 6e and XEV 9e. This investment forms part of a broader Rs 16,000 crore plan for the electric vehicle sector, covering the fiscal years 2022 to 2027.

The automotive giant is establishing a production facility at its Chakan plant in Mumbai, initially set to manufacture 90,000 units annually, with potential upgrades to 120,000 units. Slated for market introduction in early 2025, the BE 6e and XEV 9e are expected to enhance the brand's domestic footprint.

Rajesh Jejurikar, Executive Director and CEO of Mahindra's auto and farm sectors, emphasized the global aspirations, citing a phased approach targeting right-hand drive markets first. Mahindra is also leveraging expertise by involving specialists from luxury brands and focusing on comprehensive customer experiences.

(With inputs from agencies.)