Mahindra aims to lead electric SUV sales with new EV unit

NEW DELHI: Mahindra and Mahindra aims to lead sales of electric sport-utility vehicles (SUVs) in the country, its CEO said on Friday, a day after the automaker raised money for its new electric vehicle (EV) unit at a $9.1 billion valuation.
Mahindra and British International Investment (BII) said late on Thursday they will each invest up to $250 million in the EV unit which will focus on four-wheel passenger electric cars.
The company sells some of India’s most popular combustion engine SUVs, including the Scorpio and Thar, and now plans to dominate the EV sector with similar models.
“We are very confident we will take leadership in this space,” Mahindra chief executive officer Anish Shah said during a press briefing.