Mahindra & Mahindra is setting its sights on making a significant impact in the electric vehicle (EV) market, particularly in the electric SUV segment. After trailing Tata Motors in the EV space, Mahindra is now preparing to make a strong comeback by entering into a strategic partnership with Skoda Auto Volkswagen India.
Key Partnership for e-SUVs
Mahindra & Mahindra is in advanced discussions with Skoda Auto Volkswagen India to form a joint venture (JV) focused on electric SUVs. The JV, which is expected to be a 50-50% stake partnership, aims to develop and produce e-SUVs for both the Indian and international markets. While the collaboration will also involve the production of petrol and diesel cars, the primary focus will be on electric vehicles.
The production for this ambitious project is likely to take place at the Chakan plants in Pune, which are operated by both companies. By pooling their resources, technology, and platforms, Mahindra and Skoda Auto Volkswagen India aim to create competitive electric SUVs that can meet the growing demand in the EV market. An official announcement regarding this JV is anticipated by the end of the year.
Tata Motors Expands Its Electric Vehicle Lineup
Meanwhile, Tata Motors is continuing its strong push in the EV market. The company has recently introduced the Curve EV, marking the start of a new segment. Tata is also working on expanding its EV lineup with new models, including electric versions of the HARRIER and Safari, expected to launch by the end of the year. In addition, Tata is developing its first premium electric car, the Avinya.
In a move to enhance customer experience, Tata Motors has started separating its EV dealerships from its traditional petrol, diesel, and CNG vehicle outlets. The company launched the TATA.EV STORE in 2023, aiming to provide a dedicated and premium shopping experience for EV buyers.
With both Mahindra and Tata Motors aggressively expanding their electric vehicle portfolios, the Indian EV market is poised for significant growth and competition in the coming years.
