Newsroom    Knowledge Centre    Impact Stories    Mahindra plans to stay focused on the electric vehicles...

Mahindra plans to stay focused on the electric vehicles segment

Mahindra Electric will launch three electric vehicles in the current fiscal

With the Indian EV industry poised for recovery, Mahindra Electric will continue with its plans to launch three new products this financial year. Showcased at the Auto Expo 2020, this February, the Mahindra eKUV100 will be India’s most affordable electric car,andwill go on sale in the next few months.

This will be followed by the launch of Treo Zor an electric load carrier. The Mahindra Atom, a unique mobility solution that has the potential to transform India’s last and first-mile commute, is also slated to launch in the fourth quarter of this financial year. Mahindra sold over 14,000 electric vehicles last year.

Encouraged by the demand for the Treo electric auto and Treo Yaari electric rickshaw, the company is now set to launch load carrier Treo Zor by the end of the year. “There is a high potential for an electric auto load carrier for e-commerce and last-mile delivery. Therefore, we are looking at launching the Treo Zor by the end of this year,” said Mahesh Babu, MD and CEO, Mahindra Electric, in a recent media interview.

The electric autos segment has recovered to about 40-50 percent of pre-COVID-19 levels. The company will continue to focus on electric autos as they make economic sense for their customers, Babu said. However, the focus on three-wheelers would not come at the cost of other electric products. Mahindra Electric has not reduced or pulled back any investments despite the ongoing crisis.

Stating that India’s EV industry was poised for a recovery, Babusaid: “The EV sector has localised much faster than the internal combustion engine industry.” Underscoring the ‘Made in India’ element, he pointed out that a lot of value addition has already gone into electric vehicles. Barring the battery cell, almost all components of the Treo range are ‘Made in India’.

The big positive for EVs is that they have no tail-pipe emissions. The lockdown has made people experience the benefits of cleaner air. There is a correlation between air pollution and viruses. Air pollution affects the lungs and makes people more susceptible to viruses. EVs, therefore, can play an important role in ensuring cleaner air for everyone. The emphasis on safety, including social distancing,will also drive people to purchase their vehicle for commuting to work and also drive EV demand in the future.