Mahindra is set to launch the fully electric version of KUV100 during the first quarter of the next fiscal year. The company already offers two electric vehicles in India. There is eVerito electric sedan and e2O Plus compact electric car. Now, the company is set to launch the electric version of its compact SUV in the country. With the new model, the company plans to take on Tata Motors, which recently unveiled its Nexon EV. The interesting element of KUV100, when it launches, will be the price.
In an interview with CNBC, Pawan Goenka, MD of M&M Ltd confirmed the electric version of KUV100. Goenka also confirmed that it will be priced under Rs 9 lakhs. The price should make it the most accessible electric SUV in the country. Electrification became a big theme globally for automakers last year. It caught steam in India last year and is expected to become a major talking point in 2020. Hyundai and Morris Garages have unveiled their electric vehicles in the form of Kona and MG ZS EV in India.
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The Indian government is pushing to electrify the public transport options in the country. Mahindra is already a leader in the segment with a diversified portfolio of electric vehicles. During the interview, Goenka revealed that around 4,000 electric buses would be on Indian roads in the next year. He also added that commercial viability for electric three and four wheelers has been established. The bottleneck, according to Goenka, is the cost of electric vehicles, which is more than that of its ICE counterparts available in the market.
Goenka also revealed that the company has over 22,000 electric buses on Indian roads. The company is also reportedly looking at shared mobility as an option and working with multiple governments. Hyundai Kona, which was launched at Rs 25.30 lakh (ex-showroom), has seen good response. MG ZS EV is expected to get even stronger response with competitive pricing. With Tata and Renault joining the fray soon with its Nexon EV and Zoe EV, the electric vehicle market is set to become a prominent one in the country.