Mahindra unveils comprehensive roadmap to invest in globally competitive EV technology

Mahindra Electric, a pioneer in the development and manufacture of electric vehicles (EV) in India and a part of India’s USD17.8 billion Mahindra Group, unveiled a comprehensive technology and product roadmap, leading to the next generation of electric vehicles, which the company internally refers to as EV 2.0.

Speaking on Mahindra’s EV roadmap, Pawan Goenka, managing director of Mahindra & Mahindra Ltd. and chairman of Mahindra Electric, said, “The time has now arrived for EVs to become mainstream and Mahindra has the right technology and products for India. We will actively engage with the government, both at the centre and the state, municipal bodies and other private players for setting up a robust EV ecosystem. We are also ramping up our investments towards developing the next generation of EV technologies and products that will cater to the smart cities of tomorrow.”

Mahindra Electric has pioneered the sustainable mobility cause in India and has remained committed to it for almost a decade.

“At Mahindra Electric our focus goes beyond just developing electric vehicles as we strive towards investing in next generation technology solutions and globally competitive products, to drive faster adoption of electric vehicles. With EV 2.0 we have laid out a clear roadmap for electric mobility in India, at par with our global counterparts and are future ready to set out for the next phase of our EV journey,” said Mahesh Babu, CEO, Mahindra Electric.

EV 2.0 will see the company make investments to ramp up manufacturing and charging infrastructure and to develop new, high-end electric powertrains, motor controllers, systems integration and battery technology.

Mahindra & Mahindra Ltd. announced plans to invest directly or through its subsidiaries in โ€œhigh-end electric powertrain technology as part of its plan for the future of mobility, and electrification of some of its existing and future products,โ€ in a filing with the National Stock Exchange of India on May 21.

The investments will also be utilised towards increasing its capacity for electric powertrains and electric vehicles. The high-end electric powertrains will be used for the groupโ€™s future line up of electric vehicles, Indiaโ€™s only manufacturer of electric cars, said.

โ€œAs the pioneers of electric vehicles in the country, the group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow,โ€ the company said in the filing.

โ€œThe companyโ€™s announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the government of Indiaโ€™s thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030.โ€

With increasing concerns over clean air, urban congestion and rising fuel import bills, electric mobility is set to become mainstream for India, the company said.

โ€œThe government of India recognises this fact and is actively pursuing rapid adoption of electric vehicles, for private as well as public โ€“ shared mobility.โ€

Mahindra Electric now offers a range of EVs, suitable for personal as well as shared and last mile connectivity. At the same time, the company is investing in next generation EV technology solutions, which will deliver longer range, higher speeds and the next generation of connected car technologies.

Further, Mahindra is actively engaging with the ecosystem stakeholders, both private and public to drive faster adoption of electric vehicles. This includes setting up of charging infrastructure and fleet operations, delivering mobility as service.

The connected car solution that is already rolled out will serve as the building block for smart mobility in the smart cities, which are currently under development.

The company made its first serious bet on electric vehicles when it acquired the Bengaluru-based Reva Electric Car Company in 2010. Earlier this year, Mahindra Electric adopted a more aggressive stance in electric mobility when it moved from being an electric vehicle manufacturer to a provider of next generation mobility solutions. In line with this, the company also underwent a change in nomenclature to Mahindra Electric Mobility Limited.

Today, there are more than 2,700 electric vehicles on the road from the Mahindra stable, which have clocked more than 40 million kilometres.