Mahindra & Mahindra Threatens Tesla and BYD with Affordability of its Tesla Electric Vehicles
M&M has ventured into the electric vehicle market without any hesitation and is competing with the biggies of the automobile industry such as Tesla and BYD. After the latest BE 6e and XUV 9e EVs models were recently released, starting at around Rs 20 lakh, M&M’s CEO Rajesh Jejurikar said the company is not threatened by global rivals. He asked Tesla and BYD to come and start similar EVs in India but made it clear that the same success cannot be replicated with their electric vehicle pricing.
Pricing policy that M&M adopted involves giving aggressive price offers that threaten global manufacturers while at the same time investing Rs 12,000 crore on Tesla Electric Vehicles. The BE 6e and XUV 9e are the first products of this aggressive plan, a vision to bring luxury Tesla Electric Vehicles to the Indian market. Jejurikar’s message was clear: Thanks to local talent, Indian firms are now on par with any international competitor in the green vehicle industry.
As Jejurikar said, the new EVs that M&M has been working on, from the drawing board to the showroom, have taken only three years to create – the shortest time in the firm’s history. He stressed that these Tesla Electric Vehicles are fitted with modern technology as the best luxury products in the global market. However, in one area, Mahindra is significantly superior to most carmakers – electric vehicle pricing. Mahindra has been rather aggressive in pricing these vehicles so that they are more price competitive with the global models for the Indian market.
The addition of such features as ADAS which were an important success factor in the Mahindra XUV700 is a testimony to the fact that the company is keen on creating stylish, technologically infused, and affordable EVs. According to Jejurikar, if the prices are right and the features are suitable, then Indian consumers, including those in the conventional markets, would accept high-tech cars.
Another major benefit for M&M is that it can build electric cars of international standards with almost all Indian engineers. Jejurikar pointed out that Indian engineers’ commitment to the company is another advantage since it allows the firm to offer competitive prices for Tesla Electric Vehicles.
In the future, Jejurikar expects that electric cars will account for 30 per cent of India’s car sales by 2030. He also noted that once India starts to produce quality Tesla Electric Vehicles at relatively cheaper prices, the market uptake will rise. The current products from M&M are establishing a new low for electric vehicle costs and showing that Indian manufacturers can build quality electric cars at a reasonable cost.
source:: msn.com
