Mahindra intends to introduce three new offerings in the EV space in India by 2019-20, said Mahesh Babu, CEO, Mahindra Electric, during a seminar on electric vehicles and green shipping at the Norwegian Embassy in New Delhi.
The three EVs will likely be a sub-4-metre KUV100-based compact SUV with a 350km range, a full-size XUV 500-like model with 250km range, and a crossover based on the XUV Aero Concept that can do 300km. These will have top speeds of 186 kmph, 150 kmph and 190 kmph, and will go from 0-100 kms in 9, 11, and 8 seconds respectively. The range for the EVs would be 350 km, 250 km, and 300 km.
“We will have three new products (in the EV or electric vehicle space) which will be high performance ones,” Babu added. he also mentioned that India, with its low car density of 20 per 1,000 people, large spend on oil imports, strong IT and software backbone and high sharing modes for last-mile connectivity, presents a huge potential for EV adoption.
Highlighting the feasibility of EVs for the Indian market, Babu said that battery costs have been reducing rapidly. Initially it stood at around $500 per kWh for a battery pack, but is expected to come down to below $100 per kWh between the years 2021-2025, thereby improving battery density. Mahindra is investing in new powertrains which would produce higher power to the tune of 150kW and 400Nm.