Mahindra to Add Three More EVs to Lineup by 2020

December 07, 2017 at 12:00 AM

Mahindra & Mahindra Ltd. says its Mahindra Electric subsidiary is adding three new all-electric vehicles by 2020 to supplement the four models it already sells in India.

The subsidiary is spending $77 million to develop three variants of a small electric SUV/crossover model with ranges of 250-350 km (155-217 miles) per charge and top speeds between 150 kph (93 mph) and 186 kph (116 mph).

M&M currently markets the all-electric e-Alfa rickshaw, e20 Plus hatchback, eVerito sedan and eSupro minivan.

India has declared that it will ban the sale of piston-powered vehicles in 2030. But a Goldman Sachs analysis predicts that EVs will account for only about 8%, or 1 million units, of the total Indian market by then.