Mahindra & Mahindra (M&M) has solidified its position in the electric vehicle (EV) market with the launch of two cutting-edge electric SUVs, the BE.6e and XEV.9e, based on the INGLO Electric Architecture. These feature-packed vehicles boast long ranges of over 500 km and offer competitive pricing, making them highly attractive in the growing Indian EV segment.
Key Highlights of BE.6e and XEV.9e
- Battery Variants: Both models come in 59kWh and 79kWh LFP battery pack variants.
- Range: The large battery packs ensure impressive range, reducing range anxiety for users.
- Pricing: BE.6e starts at ₹1.89 million and XEV.9e at ₹2.19 million, highly competitive given the specs.
- Features:
- AI-enabled architecture and digital cockpit.
- 16-speaker sound system and infinity roof.
- Advanced Driver Assistance Systems (ADAS).
- Fast charging and lifetime battery warranty.
- Features comparable to luxury cars priced ₹5–7 million.
Market Response and Stock Performance
Brokerage firm IIFL Securities predicts a strong upside for M&M, initiating an ADD rating with a target price of ₹3,285, above the previous high of ₹3,221.10. The attractive pricing and top-tier specifications are expected to push M&M up the EV leaderboard, despite India’s current EV adoption rate of just 2.0–2.5%.
Competitive Edge
M&M’s BEVs surpass competitors with:
- Bigger batteries and longer ranges, addressing a critical pain point for EV users.
- Luxury features at mid-range pricing, bridging the gap between affordability and premium experience.
Investment and Future Outlook
M&M has invested ₹45 billion in the INGLO platform, technology, and manufacturing capacity for these models. With its innovative offerings and competitive pricing strategy, M&M is well-positioned to dominate the Indian EV space as adoption grows.
M&M’s latest launches mark a significant milestone, setting a new benchmark in the Indian EV market and paving the way for its growth in the rapidly evolving automotive industry.
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