After announcing its aim to localise electric vehicle (EV) production, Mahindra Electric has now announced that it will be exporting EV powertrains to the South Korean and European market, starting from 2020.
Powertrains consist of the main component of any motor vehicle that generates power and drives the vehicle. A powertrain consists of the engine, transmission, driveshafts, differentials and the drive wheels. Mahindra Electric’s EV powertrains will be manufactured in its production unit in Bengaluru, Karnataka and Chakan, Pune.
Mahindra Electric’s chief executive Mahesh Babu said that the company has already partnered with SsangYong Motor in South Korea and is looking for partnership opportunities in Europe. Reiterating Mahindra and Mahindra’s managing director Pawan Goenka, Babu said that the company is setting up a research and development (R&D) centre in Bengaluru.
The R&D unit is being set up in a 14 acre land near Bengaluru airport and is expected to be operational by the end of the year. Last month, Goenka had said that Mahindra will be investing INR 500 Cr in setting up the R&D centre, which will be used to manufacture high voltage batteries and high power starter motor, among other EV components.
Besides this, Goenka also highlighted that Mahindra has invested INR 250 Cr in its production unit in Bengaluru for manufacturing motors, chargers and assembling batteries. The MD also announced that Mahindra is planning to localise EV production by using parts manufactured in India. However, battery cells will not be a part of this localisation drive.
Talking about EVs, Goenka clarified that Mahindra has decided to lay greater stress on shared mobility, instead of personal mobility. He noted that time for electric vehicles has finally arrived and that EVs have already taken off in the shared mobility space.
Focusing on shared mobility, Mahindra plans to launch an electric version of KUV for INR 9 Lakh in the first quarter of FY20-21. The company will also be launching its ATOM Electric in the third quarter of FY21.
“The e-KUV will be priced under INR 9 lakh. The electric car will be priced under INR 9 Lakh. The electric car will be showcased in the upcoming Auto Expo 2020 and is expected to hit the market by the first quarter of 20-21 financial year,” Goenka added.
However, Mahindra also has an offering for personal use this year. Goenka added that Mahindra will be unveiling an electric version of its XUV 300 to mark its entry into the personal emobility segment.