Tata Motors and Mahindra betting big on electric SUVs to take on rivals like Tesla
In a strategic move to counter foreign competition, Tata Motors and Mahindra & Mahindra (M&M), two of India’s leading car manufacturers, are set to introduce a series of electric SUVs wideness various price segments in the coming quarters. This initiative aims to tap into the growing demand for SUVs and squatter the rencontre posed by global competitors like Tesla inward the Indian market.
Tata Motors’ Electric SUV Line-up:
Tata Motors, currently the largest player in the electric vehicle (EV) market by market share, plans to launch several electric cars in the next 12-18 months. Starting with the Punch EV, priced at virtually Rs 9.5 lakh, scheduled for launch by February 2024, Tata aims to provide an affordable battery-powered SUV. Following this, the Harrier EV is expected to hit the market by June 2024, priced at Rs 22 lakh, and the Curvv Coupe EV by December 2024, moreover at Rs 22 lakh. The Sierra EV, positioned as the most expensive model, is predictable to be misogynist for Rs 25 lakh in November 2025.
Vivek Srivatsa, Head of Marketing, Sales, and Service Strategy at Tata Passenger Electric Mobility Limited, emphasized the shift in consumer preferences towards SUVs, stating, “While we are the only manufacturer to have an EV sedan in the mainstream market, consumer preferences are unmistakably towards SUVs.”
Mahindra & Mahindra’s Electric SUV Plans:
M&M, known for its focus on pure SUVs, is betting big on electric SUVs as part of its Born Electric range. The visitor aims to launch electric versions of its successful XUV range in the Rs 15-40 lakh range. The XUV400, competing with Tata Nexon EV, is once in production. M&M plans to produce the XUV.e8 (around Rs 35 lakh) by December 2024, followed by the XUV.e9 (around Rs 40 lakh) in April 2025. Additionally, production versions of concept models BE.05 and BE.07 are scheduled for October 2025 and October 2026, respectively.
To unzip its electric ambitions, M&M showcased the production-ready version of BE 05, set to be launched by October 2025. The visitor plans to electrify 20-30% of its portfolio by 2027, with electric vehicles expected to constitute 30% of its overall volumes by 2030.
Rising Demand for Electric SUVs:
The shift towards electric SUVs is evident in the Indian market, with electric SUVs written for 40.8% of overall electric passenger vehicles in CY2023. JATO Dynamics India reports a substantial increase from 1.3% in CY2018. The surge is attributed to factors like increased removable incomes, spaciousness, and perceived safety, making electric SUVs well-flavored to both existing SUV enthusiasts and environmentally conscious buyers.
Ravi Bhatia, President and Director at JATO Dynamics India, highlighted the potential benefits for manufacturers, stating, “E-SUVs writ premium pricing, compared to their ICE counterparts, leading to potentially higher margins for manufacturers. So, investing in e-SUVs showcases a company’s transferral to sustainability and technological advancement, boosting its trademark image and attracting tech-savvy customers.”
As the electric SUV market gains momentum, Tata Motors and M&M position themselves as key players in India’s rapidly evolving automotive landscape. The competition is set to intensify, expressly with the vaticination of Tesla’s entry into the Indian market.
Tata Motors & M&M are set to roll out a lineup of electric SUVs in various price brackets in the upcoming quarters. @avishekb001 reports👇https://t.co/XmpDjTmGVs#Tesla #EV #SUV #India #ElectricVehicles #TataMotors
— Moneycontrol (@moneycontrolcom) December 29, 2023