Mahindra has confirmed that it will not be making any price cuts for its XUV400 EV, despite recent reductions in the prices of its electric SUV rivals, the Tata Nexon EV and MG ZS EV. Tata Motors slashed the prices of Nexon EV by up to Rs 1.2 lakh, and MG Motor India introduced a new entry-level Executive trim for the ZS EV, bringing down the entry-level price to Rs 18.98 lakh.
No Price Correction for XUV400 EV
Mahindra's Executive Director and CEO, Rajesh Jejurikar, stated during a press meet that there would be no price correction for the existing Mahindra XUV400 EV lineup.
Recent XUV400 EV Update
The 2024 XUV400 EV, launched on January 11, features introductory prices ranging from Rs 15.49 lakh to Rs 17.49 lakh (ex-showroom, India). It is available in EC Pro and EL Pro trims, offering different battery capacities and charging capabilities.
Price Increase After May 31, 2024
Mahindra had previously announced that prices for the 2024 XUV400 would increase after May 31, 2024.
Competitor Price Adjustments
Tata Nexon EV prices now range between Rs 14.49 lakh and Rs 19.29 lakh after recent reductions. MG ZS EV's new entry-level trim brought down the starting price to Rs 18.98 lakh.
Future Electric Lineup
Mahindra is actively working on introducing the XUV300 EV by the middle of this year, providing a more direct competitor to the Tata Nexon EV. The XUV.e family of all-electric SUVs, based on the born EV INGLO platform, will be launched from 2025 onwards.
Discounts on MY2023 XUV400 EVs
Mahindra is offering significant discounts on MY2023 XUV400 EVs to clear older inventory and create space for the upcoming models.
Despite the evolving competitive landscape and pricing adjustments by rivals, Mahindra maintains its stance on XUV400 EV pricing. The company remains committed to expanding its electric vehicle portfolio, with strategic plans for the XUV300 EV and future all-electric offerings. Mahindra's focus on maintaining a diverse and compelling lineup reflects its long-term vision in the rapidly evolving electric vehicle market.