Mahindra XUV400 EV Won’t See Price Reduction Amid Competitors’ Cuts
New Delhi: Mahindra has announced that it will not be cutting any prices for its XUV400 EV, unlike the recent moves by rivals Tata and MG to reduce the prices of their electric vehicles (EVs). Rajesh Jejurikar, executive director and CEO of the brand, confirmed during Mahindra’s press meet for the Q3 FY24 (October-December 2023) earnings call that there are no plans for a price revision for the existing XUV400 EV lineup.
While Tata Motors reduced prices of the Nexon EV by Rs 1.2 lakh and MG Motor India introduced a new entry-level Executive trim for the ZS EV, Mahindra has retained its pricing strategy for the XUV400 EV. The EV SUV was launched at a starting price of Rs 15.49 lakh, with prices expected to increase after May 31, 2024.
The recent facelift of Despite a possible price increase after May 31, 2024, Mahindra aims to maintain the competitive position of the XUV400 EV.
In the EV segment, where accessibility and pricing play a key role, Mahindra’s decision not to reduce prices could impact the market dynamics. However, Mahindra is also expanding its electric SUV lineup, with plans to introduce the XUV300 EV by mid-2024 and further strengthen its EV offering with the XUV.e family and their BE cousins starting in 2025. Is planned.
As Mahindra prepares for the future of electric mobility, it is focusing on providing a variety of options while paving the way for new models and offering discounts on old inventory to remain competitive in the emerging EV landscape. Used to be.
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