[TusharK]

Mahindra and Mahindra is looking for investors for its electric vehicle business - Mahindra Electric.



Pawan Goenka, MD, Mahindra and Mahindra has stated that the company is considering a joint venture as it seeks to scale up its EV business and launch several new models over the next 12 months. Talks with multiple interested parties are currently ongoing.

At present, Mahindra Electric's product portfolio consists of the e2o Plus, eVerito, eSupro, Treo and eAlfa Mini. Earlier this year, the company launched the eKUV100 which is powered by a 54 BHP electric motor and a liquid-cooled battery offering a maximum range of 150 km on a single charge. An all-electric version of the XUV300 is also scheduled to go on sale in 2021.

The company also owns the Italy-based Automobili Pininfarina which produces the Battista electric supercar.

Source

Link to Team-BHP News

[GTO]

I really doubt anyone will find this to be a lucrative opportunity. They were the first-movers, but didn't do anything about that advantage. Instead, they launched half-baked, crappy & overpriced products that were destined to fail. Meanwhile, the others are working hard on their EV portfolio and we should see some interesting electric cars from them in a couple of years.

[Shreyans_Jain]

Mahindra Electric for all its talk and first mover advantage is yet to come up with a properly functional no compromise urban EV. Nexon EV has shown exactly what formula is to be followed by offering practical range and performance without compromising space, ride quality and GC. Until Mahindra can launch a similarly competent product, don’t think anyone will be interested.

[sri_tesla]

Originally Posted by GTO

I really doubt anyone will find this to be a lucrative opportunity. They were the first-movers, but didn't do anything about that advantage. Instead, they launched half-baked overpriced products that were destined to fail. Meanwhile, the others are working hard on their EV portfolio and we should see some interesting electric cars from them in a couple of years.

This so true. They acquired Reva a decade ago. In the same timeframe EV battery prices declined 86% while battery technology (density) improved vastly. Even if they had taken up just the improvements in battery and motors and adopt them to bigger vehicles (4 to 4.5m), those would have been compelling vehicles.

Ssangyong is already developing an EV platform. Why don't they adopt it to Indian market with smaller battery and less powerful motors? I don't think they had any planning for EVs. They developed an EV 2-wheeler in USA, while ignoring the world's largest 2-wheeler market and that too home country. After few years, they abdondoned the project. I wonder why they make so many irrelevant investments randomly without proper vision.

VW said, they are open to share the MEB platform with others. Ford already entered agreement with VW to use it. Why not Mahindra do the same? They can use it to high end models with localization.

[padmrajravi]

Makes sense. Now that they are trying to offload Ssanyong, they will need a partner in the EV game. They have wasted Reva acquisition and the only electric concept they have is based on Ssangyon Tivoli. So to survive they will need a partner now. Experience with those electric three wheelers are of no use in creating modern electric SUVs.

[pgsagar]

For the early start they had, they should have been the front-runner. They just squandered away the years doing nothing on EV front. Now, they want to play catch-up?

[sreeharipv]

If I had a rupee for every time Mahindra called themselves an EV pioneer, I could not consider buying out their EV business outright, which I won't.

I think they failed in the passenger vehicles. They should focus on three wheelers as they already have a market share, precisely why Bajaj isn't interested in EV three wheelers.

Manufacturers should smarten up and chase the segments which they don't have a good marketshare in and develop EVs for that.

[TejasKinger]

Pawan Goenka took to Twitter today to announce that Mahindra has signed an MoU with Israel-based REE Automotive to collaborate and manufacture global EVs.

Source

Link to the REE Website

[ajmat]

A little birdie told me that Mahindra Electric might be sold. I do not have any more detail but the source was credible

[SKC-auto]

What does this mean, no more EVs from Mahindra? Or they are selling the Reva part of the business, but EVs come from M&M?

When the world is moving towards electrification, Mahindra moving the opposite direction leaving the whole market for everyone. Very sad.

[AlQuazi]

Originally Posted by ajmat

A little birdie told me that Mahindra Electric might be sold. I do not have any more detail but the source was credible

Maybe this is related?

The tone of the article is different though. It suggests more about collaboration than an outright buyout.

[sri_tesla]

Originally Posted by ajmat

A little birdie told me that Mahindra Electric might be sold. I do not have any more detail but the source was credible

I doubt it very much. If they are abandoning their electric investments altogether they might as well prepare for exiting the passenger car business in parallel. Sooner or later, India also will go for EVs completely. Also, they don't have much to sell in the first place. Their only products on the market Treo 3-wheelers and there are already many players in the market. Their MESMA EV platform on which XUV300 EV is being built is not released yet.

[volkman10]

Are Mahindra's electric plans jinxed?

Mahindra Electric CTO Martin Murray quits, soon after Mahesh Babu's resignation as CEO and MD

Link

[shortbread]

That is sad news if true, especially considering all the investments M&M has made:

- Buying REVA more than a decade ago, giving it the first mover advantage.
- Launching the Mahindra E2O in 2013
- Racing in FE since 2014
- eVerito launched in 2013 and being the most popular electric cab
- Multiple EV concepts throughout the years eg. Halo sports car, XUV 300 & 100 EV concepts, the Batista super car etc...etc...

All I can say is that I am extremely disappointed if M&M is quitting the EV space after all this effort, just when the time is ripening for a full on EV assault into the Indian market.

I pray they re-think this move. It makes far more sense for M&M to sell it's pointless/loss-making two wheeler business and re-direct this energy/capital into EVs.

[volkman10]

Mahindra Group likely to split auto business into 3 units

will involve separating the electric vehicle, tractor and passenger vehicle (PV)businesses into three independent companies via a demerger process

The EV business, along with its manufacturing plant in Pune, will be clubbed with Italian design house Automobili Pininfarina to form a company. The group is also exploring raising funds for the EV entity.

The farm equipment and tractor division are likely to become another standalone entity.

The PV business, with brands like Scorpio, the XUV range and Thar, is likely to become the third standalone firm.

Link