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Mahindra to unveil 5 new electric SUVs on August 15, see teaser video

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HIGHLIGHTS :

  • Recently, Mahindra also announced the formation of a new EV subsidiary company.
  • It has also received investment from British International
  • Both the companies will work together to strengthen this segment.

Recently, Mahindra also announced the formation of a new EV subsidiary company.

Mahindra is going to make a new beginning in the electric vehicle segment. Through the teaser video, the company has confirmed that it will be revealing 5 new electric SUVs on the 15th of August. In the latest teaser, the company has said that it will introduce 5 electric SUVs in its Bourne Electric range. These will be unveiled in the UK. That is, the company is moving ahead keeping in mind the global market. Mahindra has called it the world premiere. It is believed that the company will offer 5 different styling electric SUVs including a coupe SUV, a compact SUV, and a mid-size SUV. Mahindra, which is coming with the intention of strengthening the competition in the electric vehicle market, had released many teasers even before this.

Of the 5 models, four will be ground-up electric vehicles. While a model is expected to be the XUV400, which is to be launched by the end of 2022. The company has also showcased a new coupe SUV which is likely to be called the Mahindra XUV900 Electric SUV Coupe. The company may also showcase an electric mid-size SUV, which will be the size of the XUV700.

It has also received investment from British International

Recently, Mahindra’s Chief Executive Officer Anish Shah said during a press briefing that we are confident that we will lead in this area. He had said that it is not just an investment. it’s a start. Going forward, we will also bring in more investors at higher valuations. The Mumbai-based company sells several popular vehicles like Scorpio and Thar and is now aiming to dominate the electric vehicle market in the country.

Mahindra has also announced the formation of its new EV subsidiary. The company has also secured an investment of Rs 1,925 crore from British International Investment (BII). Both the companies will work together to strengthen themselves in this sector. Under this partnership, BII will invest up to Rs 70,070 crore. This amount will be invested in the form of mandatory convertible instruments. This will give BII a stake of between 2.75 percent and 4.76 percent in Mahindra’s new EV company.

Both the companies will work together to strengthen this segment.

Mahindra has also announced the formation of its new EV subsidiary company. The company has also received an investment of Rs 1,925 crore from British International Investment (BII). Both the companies will work together to strengthen themselves in this segment. Under this partnership, BII will invest money at a valuation of up to Rs 70,070 crore. This money will be invested in the form of compulsory convertible instruments. This will give BII a stake between 2.75 percent and 4.76 percent in Mahindra’s new EV company.

Of the 5 models, four will be ground-up electric vehicles. While a model is expected to be the XUV400, which is to be launched by the end of 2022.

 

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