Mahindra & Mahindra unveils two new EVs priced under Rs 22 lakh, shares in focus

Auto large Mahindra & Mahindra (M&M) made headlines connected Tuesday by expanding its electrical conveyance (EV) portfolio with the motorboat of 2 all-new ground-up models—BE 6e and XEV 9e. The determination positions M&M aggressively successful the competitory EV market, attracting attraction from investors and customers alike.

The BE 6e and XEV 9e travel with starting prices of Rs 18.9 lakh and Rs 21.9 lakh (ex-showroom), respectively, with deliveries expected to commence successful February-March 2025. Rajesh Jejurikar, Executive Director and CEO for the car and workplace sectors stated, “We judge we person a precise competitory offering that volition make a category.”

The BE 6e boasts an awesome scope of 682 km, portion the XEV 9e offers 656 km per charge. A phased rollout of these models volition statesman successful January 2025, with a dedicated squad of 500 specialists ensuring a premium pre-purchase experience.

To fortify its EV push, Mahindra is mounting up a Rs 12,000 crore investment successful its EV business, including a caller manufacturing enactment astatine Chakan with an yearly capableness of 1.2 lakh units.

Stock and Financial Performance

Shares of M&M person surged 92% successful the past 12 months and are up 76% successful 2024, reflecting robust capitalist confidence. The institution reported a 35% YoY maturation successful Q2 FY25 PAT astatine Rs 3,171 crore and a 10% gross increase to Rs 37,924 crore.

With a absorption connected innovation and investment, Mahindra’s EV strategy could further bolster its marketplace presumption successful the burgeoning electrical mobility space.