iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

M&M to focus on the distance travelled in a single charge, in its EVs

28 May 2024 , 02:22 PM

Instead of focusing just on affordability, Mahindra & Mahindra’s new line of electric vehicles will prioritise the newest technologies and the distance they can cover on a single charge. While the TCO (total cost of ownership) approach to EV development, or how much one saves when switching from petrol or diesel cars to EVs, may work in the short term for ‘early adopters’, in the long run, it’s the range, technology, and overall experience that will help in creating new market segments and to grow sales, according to R. Velusamy, president, automotive technology and product development at M&M, in an interview with ET.

The consumer doesn’t care if you drive an ICE car or an electric vehicle as long as you have the necessary range and can provide an amazing experience. According to Velusamy, a large number of other OEMs (original equipment manufacturers) have calculated TCO incorrectly. “Today’s consumer demands it all—from multiple screens and connectivity to their gadgets and personalised experiences,” he stated.

Mahindra now only offers the XUV4OO as an electric variant. The carmaker is getting ready to make a significant move into the electric vehicle market with the launch of its “Born Electric” range, which was created from the ground up, in the first quarter of 2025. Mahindra intends to introduce seven new plug-in hybrid vehicles by the year 2030.

India’s electric four-wheeler market appears to be cooling off after rising over 91% in FY24. In April, sales dropped 22% sequentially to 7,415 units, the lowest level since January.

Tata Motors, the market leader in EVs, acknowledged that the EV sector’s early adopter phase is coming to an end. In a post-earnings call earlier this month, P. Balaji, the chief financial officer of Tata Motors Group, stated, “We are clear that the phase of early majority wanting to come in on an enthusiastic mode is probably getting over.”

For feedback and suggestions, write to us at editorial@iifl.com

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/

Related Tags

  • EVs
  • Mahindra & Mahindra
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Indian markets close on a positive note
14 Jun 2024|06:41 PM
Sensex and Nifty Surge
14 Jun 2024|06:43 PM
LIC stock price up by more than 5% today
14 Jun 2024|06:44 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.