Mahindra & Mahindra, a leading domestic automaker, today said that it will sell the Mahindra Scorpio and Mahindra Bolero electric vehicles in India.
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) of Mahindra, announced that the company would introduce the electric versions of two well-known sport utility vehicles (SUVs) in the nation. But he kept quiet about the launch schedule.
The modular electric drive matrix (MEB) platform from the Volkswagen Group will be used as the foundation for both the electric Scorpio and Bolero.
The platform will also be used by Mahindra's BE and XUV.e lineup of electric SUVs, among others. The INGLO EV platform will be used by Thar Electric as well.
Mahindra revealed five electric SUVs in August 2022: the XUV.e8, XUV.e9, BE.05, BE.07, and BE.09. Between December 2024 and October 2026, the XUV.e8, XUV.e9, BE.05, and BE.07 models will be introduced. BE.09's launch schedule has not yet been disclosed.
The business has already stated that it expects electric cars (EVs) to account for 20% to 30% of its SUV volume by 2027.
Mahindra and Temasek recently reached a legally binding agreement through which the Singapore-based global investment company will invest Rs 1,200 crore in MEAL, the passenger EV subsidiary of the manufacturer of the XUV700, increasing its value by 15%.
A legally binding agreement for BII and Mahindra to invest up to Rs 1,925 crore each in MEAL was signed in July 2022. The valuation increased to Rs 70,070 crore after the BII investment, giving it a 2.75% to 4.76% ownership stake in the EV company.
However, as a result of Temasek's new investment, MEAL's valuation jumped by 15%, from Rs 70,070 crore to Rs 80,580 crore.
Bolero And Scorpio Electrified Model From Mahindra Confirmed