TIL Desk/Business/London/ With increased consumer awareness and government support in place, it is the opportune time to enter the electric passenger vehicle segment, Mahindra Group chairman Anand Mahindra said on Monday.
With an eye on gaining leadership in the electric four-wheeler segment, the Indian auto major announced that it will launch five new electric Sports Utility Vehicles (SUVs) for both domestic and international markets, with the first four expected to hit the road between 2024 and 2026.
The company would introduce the first of the five e-SUVs towards the end of 2024, starting with the Indian market. Mahindra currently does not have a presence in the electric passenger segment. It however is the leading player in the domestic electric three-wheeler space with over 70 per cent market share.
“Today with government support, rapid lowering of the cost of ownership and increased consumer awareness of environmental awareness issues, we believe that the time is ripe and right for us to enter the four-wheeler markets with our range of battery electric vehicles,” Mahindra stated in London.
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