Mahindra & Mahindra aspires to become ‘lifestyle brand’ with new EVs

Mahindra & Mahindra, the country’s largest SUV manufacturer by volume, is targeting lifestyle buyers with the launch of its new electric vehicles, BE 6e and XEV 9e. The BE 6e is priced at Rs 18.90 lakh, whereas the XEV 9e is priced at Rs 21.90 lakh.

“One tends to feel that the Indian market is no longer about a certain price point... Our strategy is around creating lifestyle products that are accessible so that there is aspirational imagery,” says Rajesh Jejurikar, Executive Director, Mahindra & Mahindra Limited. 
According to Jejurikar, Mahindra’s EVs will draw customers who have a high desirability towards performance and tech. “In a way, the market for this (EVs) is opening up to people who want lifestyle experiences, and so whether they even market in a nation stage or not is to the extent not as relevant, because this is how we believe markets will grow,” notes Jejurikar.

BE 6e and XEV 9e are based on the company’s born-electric INGLO platform. The company has pumped an investment of Rs 4,500 crore for the EVs. Both EVs will lock heads with the mid-size SUV ICE and EV products such as Tata Curvv.ev and Hyundai Creta.

The deliveries of BE 6e and XEV 9e will commence in the February to March period. The company is initially planning to produce 90,000 units per year. In terms of exports, the company plans to target the right-hand market first. Notably, the company will launch three to five more electric vehicle models on the INGLO architecture by FY28.

Notably, as the company aspires to become a lifestyle brand, Mahindra consciously has no plans to foray into CNG powertrain options. “Our brand today stands a lot around performance and the thrill of driving. We don't believe we can deliver that with CNG. So we are not playing into fleets. We are not playing into the segment of buying the most fuel-efficient product. We are playing into a segment of customers who want tech experience and performance,” says Jejurikar.