Mahindra has earmarked a capital expenditure (CAPEX) of Rs. 9,000 crore for its business from which Rs. 3000 crore have been allocated for EVs.
Mahindra has been one of the pioneers in the Indian EV industry and we have seen quite a few electric vehicles from the automaker in the last decade. Mahindra has tried to tap various segments with models like the e2O electric hatchback, e-Verito sedan or the eKUV100 or eXUV300 which were showcased at the Auto Expo 2020. While previously, the company had been using the MESMA platform to spawn electric vehicle, it is now coming up with a brand new BORN platform to develop two brand new EVs going on sale between 2025 and 2026.
Mahindra has earmarked a capital expenditure (CAPEX) of ₹ 9,000 crore for its business from which ₹ 3000 crore have been allocated for EVs. The remaining ₹ 6000 crore will be used to build-up on the SUV business as seven new SUVs are in the pipeline. The eXUV300 and eKUV100 which were already unveiled earlier are yet to hit the market and are expected to go on sale by the end of this year. Mahindra will also launch the new-generation Scorpio and XUV700 in 2021 itself.
While the company is planning to take on the domestic market quite aggressively, it will also be investing further in the Automobili Pininfarina this year as the company gears up to launch the Battista in 2022. The Automobili Pininfarina Battista is the most powerful road-legal car ever designed and built in Italy. The carbon fibre monocoque chassis and body provide the strong foundation and backbone of the Battista, with its four electric motors generating 1,824 bhp and 2,300 Nm torque, enabling it to clock triple-digit speeds in sub two seconds.