Mahindra enters a new division through existing retails to boost EV through XEV and BE sub-brands initially targeting domestic sales.
In a bold move towards entering the electric vehicle (EV) market, Mahindra has launched two new sub-brands, namely XEV and BE, to strengthen the electric segment of their cars. Unlike Tata Motors, which has established a separate retail network for electric vehicles, Mahindra will be utilising its retail channel for sales of these models. As a result, it will allow customers to have a seamless experience as they choose between internal combustion engine (ICE) vehicles and electric ones at the same outlet.
What do the leaders have to say?
It has been designed to take into account an entire customer base. According to Rajesh Jejurikar, Executive Director and CEO, of Auto and Farm Sectors, Mahindra’s thinking is that if an outlet displays different types of vehicles, it will entice a customer to come in and explore other options. “For a customer to come into our outlet, they should see all the products that they can then choose,” said Jejurikar. This will increase the demand while allowing the consumer to evaluate multiple models at once.
New Electric Models
The latest BE 6e and the new XEV 9e, launched last week, are two new electric cars from Mahindra in the mobility space. Their design is based on the state-of-the-art INGLO architecture and uses advanced technology to deliver performance and efficiency. Prices for the BE 6e begin at ₹18.90 lakh and for the XEV 9e at ₹21.90 lakh. Delivery of both models will start hopefully by February-March 2025. This is a significant moment for the company as it expands the EV portfolio besides established models such as the XUV400.
Domestic Market
Mahindra will not prioritise exports; rather, it will prioritise domestic sales at the initial moment for the company. Jejurikar made it clear that the company would not look beyond India’s borders until success had been secured from operations in the country, followed by markets for right-hand drive vehicles and, finally, those again for left-hand drive ones. Thus, it matches well with Mahindra’s top priority—home market strength before an international venture.
Dedicated Sales Teams
In addition, Mahindra will form specific sales teams at its dealerships to effectively sell these electric vehicles. The company intends to recruit those with experience selling luxury and premium brands, coupled with service advice from highly technical staff. This is further evidence of Mahindra’s commitment to offering quality customer experience to EV buyers.
Manufacturing Growth
Mahindra has thus established a production capacity of 90,000 units a year in its Chakan plant to leave room for possible increased demand for the BE 6e and XEVs by 2023, with the capacity to scale up to 120,000 units a year. The manufacturing capacity originally shown in its EV expansion program demonstrated Mahindra’s desire to fulfil consumer demand in a growing market of EVs.
Competitive Scenario
The beginning of sub-brands in BE and XEV has placed Mahindra right in the path of Tata Motors and others in the EV battlefront. As the consumer base of electric mobility increases, the fact that Mahindra has opted to blend EVs with its existing retail chain may give it an edge going forward. This market is becoming even hotter with new entries such as Hyundai and MG Motors eyeing the cash-rich opportunity.
Mahindra developed the BE and XEV sub-brands utilising the company’s present retail channels, and its firm focus on e-mobility proves that the firm can bend with the current technological era and provide a variety of choices to consumers. Through its talent-sprung teams of professionals and work on domestic success, Mahindra can make amazing strides in the Indian market of EV vehicles. This can only be an advantage for legacy automobile manufacturers becoming aware that as consumers slowly embrace ecological conscience, this shift may redefine how they position themselves in the face of an increasingly electrified market future.
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