Mahindra Electric looking for investors

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.

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