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M&M Plans To Launch Electric Variants For Its Crossover SUVs

M&M launches refresh of its compact-SUV KUV 1OO

M&M’s management stands alongside the newly introduced facelift of the KUV 100 (Photographer: Alex Mathew/BloombergQuint)
M&M’s management stands alongside the newly introduced facelift of the KUV 100 (Photographer: Alex Mathew/BloombergQuint)

Mahindra and Mahindra Ltd. plans to launch electric variants of all its crossover SUVs, as government pushes to electrify all vehicles on road by 2030.

At the launch of a refreshed variant of KUV 100, M&M’s Managing Director Pawan Goenka said the next step would be to introduce an electric variant of the compact SUV. M&M is the only Indian maker of electric vehicles.

India’s largest utility vehicle maker launched the entry-level KUV 100 NXT starting at Rs 4.39 lakh (ex-showroom) for the petrol variant and Rs 5.39 lakh for the diesel offering. The new variant comes less than two years after the launch as M&M looks for a bigger share of the fast-growing segment.

Compact SUVs dominate the utility vehicle sales in India. Maruti Suzuki Ltd.’s premium offering, the Vitara Brezza, is the highest selling SUV and averages 9,000-11,000 units a month. In comparison, M&M sold around 60,000 units of the KUV 100 in the 21 months since launch. Sales of compact-SUVs are growing at over 60 percent, the company said.

M&M usually comes out with a refreshed variant after 30 months of a launch. “The timelines are being shortened. Refreshes are now being planned after 18-20 months,” Goenka said. Work begins on refreshes before a model is launched, he said.

The KUV 100 update includes cosmetic changes like a new front grille, LED lights, a new spoiler, and an increase in length. The company has also added a new infotainment system, and standardised safety features. The cost to develop the refurbished compact SUV was a “frugal investment” of Rs 90 crore, the company said.

M&M is offering Rs 25,000-50,000 discount on its compact-SUV, Rajan Wadhera, the president of the company’s automotive division, told BloombergQuint. That’s putting pressure on margins, he said.