India’s giant automotive company Mahindra is going to launch its new EV MG 400 along with Tata Nexon. Mahindra sold a record number of domestic passengers in 2022 that is 37.93 lakh units. It is growing 23.1 percent from the preceding year.
The electric vehicles competition is slowly growing between Tata Motors and Mahindra. Recently Tata Motors has reduced Nexon EV price. But the Mahindra SUV400 EV will be an aggressive launch in its price.
Though Mahindra and Mahindra is entering in late in the Indian EV market, where Tata Motors is the leader.
In 2022, about 38,000 units of electric cars will be sold. But as per report, this number may reach 376,00 units by 2030, with an average growth rate of around 33.3% between 2022 to 2030. Among these vehicle categories, most SUV category vehicle sales in future and its growth will be around 36%. Interestingly, Tata nexon EV and Mahindra SUV400 are SUVs.
Tata Motors comes with two SUV variants- Prime and Max. While prime gives 312 kms range on a single charge. Max gives 453 kms range. Tata Motors reduced the Nexon EV price from Rs 14.99 lakh to Rs 14.49 lakh and Nexon Max from Rs 19.84 lakh to Rs 18.99 lakh. This price reduction is clearly indicating the launch of Mahindra SUV400 EC. It gives a range of 375 kms and price is Rs 15.99 lakh.
Read more:Five electric cars showcased at Auto Expo 2023| What’s new?
Another variant- SUV400 EL comes at Rs 18.99 lakh and gives a decent 475 kms range on a single charge. All the prices are ex-showroom.
Right now, Tata Motors is the biggest player in the Indian market. Around 80% of market share is captured by Tata Motors. So, it will be interesting, what will be the market share of Tata Motors after the launching of the Mahindra SUV.
Read more:India’s first solar car EVA unveils at Auto Expo 2023
On the other side, Hyundai and Kia Motors come with a higher price tag. Maruti Suzuki has announced to launch EVs by 2025 along with Toyota Motors. It is expected that after the Maruti EV launch the electric vehicles market in India will be disrupted.
