M&M Eyes Lifestyle EV Segment

28 Nov 2024 , 01:26 PM

According to news reports, Mahindra & Mahindra (M&M) will try to attract customers of petrol and diesel automobiles who are searching for “lifestyle” options with its newest electric vehicles, not just those who intend to switch to environmentally friendly personal transportation.

The Mumbai-based automaker on Tuesday announced its first full-fledged entrance into India’s nascent EV industry with the launching of two fully electric vehicles. Based on the company’s most recent INGLO vehicle architecture, these are the first two “born electric” cars. Over the coming years, M&M intends to introduce three to five additional models built on the same vehicle architecture.

“Lifestyle buyers, not EV buyers, are our target market. We will not succeed if we target EV buyers. Internal combustion engine (ICE) conversion to lifestyle electric vehicles (EVs) is our goal,” Rajesh Jejurikar, ED & CEO, Auto & Farm Sectors, Mahindra & Mahindra, told ET. According to him, the desire to drive an EV is the first thing M&M wants a potential client to have.

“The right brain should activate first. The mind must first desire it before we can respond to all of the left brain’s queries,” he stated. Jejurikar thinks that rather than worries about high initial acquisition costs, charging infrastructure, or battery life, the absence of appealing products is discouraging EV customers in India.

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