Mahindra seems very confident about its position in the Indian market. It is not worried about Tesla’s entry into the Indian EV space.
Mahindra & Mahindra is one of the most successful automotive brands in India. It is also the largest SUV maker. After introducing popular SUVs like Scorpio and XUV 700, the company has also introduced electric cars like XUV 400 EV. The Indian brand is very confident about its future in the Indian market. It seems unfazed by Tesla’s entry into the Indian EV space. The company’s confidence is based on a strong success record. It is well-positioned to compete.
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Company Confident of Maintaining Leadership Position
In a recent interview, the CEO of Mahindra & Mahindra, Anish Shah stated that the company is confident about its leadership position in the SUV market. “We’ve seen tremendous competition in India over the last 20 years. We are very confident in our ability to compete with anyone in the EV space,” he said. The Mahindra CEO also added that the company is investing heavily in electric vehicles. It already has a strong dealer network and a solid track record of innovation.
So far, Mahindra & Mahindra has only two EVs in its lineup. Recently, the company launched the Mahindra XUV 400 EV, based on the XUV 300. It comes with a larger wheelbase. The Indian brand has been developing EVs for a while now. While it has enough financial resources, the company has also benefitted from the Indian government’s push for EVs. It is to be noted that the Indian government also offers a number of incentives for EV buyers.
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Mahindra Ready to Provide Stiff Competition to Tesla
Tesla’s entry into the Indian market is quite exciting for the automobile sector. However, it will have to offer a strong product with a competitive price to succeed in India. Mahindra is well-positioned to be Tesla’s strong competitor in the Indian market. It has been performing very well in recent quarters. Along with traditional SUVs, the brand has seen an increase in the sale of EVs. In the month of July 2023, the company saw the highest monthly sales of 55,928 units. This includes top models like Mahindra Thar, Scorpio-N, and XUV700 which sold 10,202 units, 10,126 units, and 9,375 units, respectively. The strong sales are likely to continue in the coming years.
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