Mahindra & Mahindra has announced an investment of ₹4,500 crore to develop two new “Born Electric” models, BE 6e and XEV 9e, as part of its broader ₹16,000 crore electric vehicle (EV) capital expenditure plan for FY22-27. This investment includes building production capacity and advancing overall development in the EV space, according to Rajesh Jejurikar, Executive Director and CEO of the auto and farm sectors at Mahindra.
The company is setting up an annual production capacity of 90,000 units at its Chakan facility for the two models, with the ability to scale up to 1.2 lakh units annually. Mahindra revealed the BE 6e and XEV 9e models on Tuesday, with deliveries slated to begin between February and March 2025.
The Mahindra BE 6e boasts an impressive range of 682 km, with an entry-level price set at ₹18.9 lakh (ex-showroom), offering a compelling option for buyers seeking a long-range EV. Meanwhile, the XEV 9e provides a range of 656 km and starts at ₹21.9 lakh (ex-showroom), catering to those looking for a premium electric SUV experience. Both models are designed to combine performance and value, making them strong contenders in the electric vehicle market. Additional variant pricing will be announced at a later date.
Mahindra aims to balance accessibility and aspiration in its EV strategy, focusing on lifestyle-oriented yet affordable electric vehicles. The company also plans to expand into international markets, prioritizing right-hand drive regions before moving to left-hand drive territories. “Our immediate focus is to establish these brands in India, but global markets are part of the long-term strategy,” Jejurikar noted.
Mahindra is onboarding 500 specialists from luxury and premium automotive backgrounds to enhance pre-purchase drive experiences. Additionally, 400 tech experts from Mahindra Research Valley in Chennai will focus on elevating customer interactions and support.
The company will launch the BE 6e and XEV 9e in phases starting January 2025, with deliveries expected to commence in February or early March. Currently, Mahindra offers the XUV400 in its electric passenger vehicle lineup, and the new models aim to significantly bolster its presence in the EV market.
Established in 1945, the Mahindra Group is a globally renowned federation of companies with a workforce of 260,000 spanning over 100 countries. It holds a leadership position in India in sectors such as farm equipment, utility SUVs, information technology, and financial services and is recognized as the world’s largest tractor manufacturer by volume.
The Group also has a significant footprint in renewable energy, agriculture, logistics, hospitality, and real estate. Mahindra is committed to global leadership in ESG, fostering rural prosperity, and enhancing urban living. Its mission is to create positive change for communities and stakeholders, inspiring them to “Rise” and achieve greater success.
