M&M's new EVs face twin bumps

Mahindra & Mahindra Ltd (M&M) has widened its electric vehicle (EV) portfolio with the launch of two new models—BE 6e and XEV 9e. Its first EV, the XUV 400, is still struggling almost two years after its launch in January 2023, with sales of about 1,000 units a month.

- Manish Joshi

Mahindra & Mahindra Ltd (M&M) has widened its electric vehicle (EV) portfolio with the launch of two new models—BE 6e and XEV 9e. Its first EV, the XUV 400, is still struggling almost two years after its launch in January 2023, with sales of about 1,000 units a month. The new models have bigger batteries, more powerful electric motors and better features than the XUV 400, and are priced attractively compared to rivals' offerings.

Here's the hard part, though. The Indian EV industry has two main problems: poor battery charging infrastructure and weak visibility on resale value. Rapidly changing technology and frequent updates to models make it hard to get a reasonable resale price for older models. JSW MG Motor India has tried to address this problem by assuring 60% buyback value after three years or 45,000 km. Still, the company's sales volume of about 3,000 units in October is nothing to write home about.