In a New Year message to employees, Anand Mahindra of the Mahindra Group, highlighted the company’s remarkable strides in the electric vehicle (EV) market with its premium offerings, the BE 6 and XUV 9e. Reflecting on the positive reception these models have garnered, Mahindra remarked, “It’s difficult to exaggerate the positive reaction these EVs have evoked, surpassing even our own expectations. Which makes me question what lies at the heart of this surge of interest and goodwill?”
Mahindra & Mahindra (M&M) has made a bold move in the domestic electric vehicle sector, unveiling competitive pricing for the highly anticipated BE 6 and XUV 9e electric SUVs. The company’s strategic push has positioned it as the 11th most valuable automobile manufacturer globally. Mahindra also shared significant milestones, including M&M’s dominance among the NIFTY50 companies since 2002, where it has posted the highest compounded annual share price growth. Last year alone, M&M saw its stock price soar by 77%.
In addition to the automotive successes, Mahindra Group has reinforced its commitment to sustainability and growth across various sectors. Mahindra Susten has made significant strides in renewable energy, amassing a project pipeline of 3.3GWp. Meanwhile, Mahindra Lifespace continues to develop eco-friendly real estate, and the company’s Last Mile Mobility arm remains a leader in India’s electric three-wheeler market. Mahindra Finance has crossed a major milestone, with its loan book surpassing Rs1.1 lakh crore, further solidifying its financial strength. The Tractor business has continued to dominate the market, cementing the company’s diverse portfolio.
The BE 6, priced at Rs18.9 lakh (ex-showroom), and the XUV 9e, anticipated to cost around Rs23.59 lakh, represent Mahindra’s bold innovation and commitment to shaping the future of electric mobility. These vehicles offer a compelling alternative to traditional models in the EV market. In his letter, Mahindra referenced the Cambridge Dictionary’s 2024 Word of the Year, “Manifest,” interpreting it as a call to transform aspirations into tangible outcomes. He highlighted how these new models epitomize the company’s ability to bring visionary ideas to life.
Sales of the BE 6 and XUV 9e are set to begin this month, with deliveries expected to commence by the end of February 2025. This marks a pivotal moment for Mahindra, as it expands its electric vehicle lineup and strengthens its foothold in the rapidly growing EV market.