Tech
XUV400, Mahindra's First Electric SUV, Likely To Be Powered By LG Energy Solution Batteries: Report
Swarajya Staff
Jul 12, 2022, 01:27 PM | Updated 01:27 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Indian automobile major Mahindra & Mahindra is likely to source batteries for its first electric sports utility vehicle (SUV) from South Korean battery maker LG Energy Solution.
Mahindra's XUV400 SUVs, the first electric offering by the company in the segment, is likely to be launched later this year in September while deliveries of the EV are expected between January and March 2022, a source was quoted in a Reuters report as saying.
Earlier in 2018, Mahindra had signed a deal with LG Chem, the company that was later split to form LG Energy Solution, to collaborate on the supply and technology of NMC (Nickel, Manganese, Cobalt) chemistry based lithium-ion batteries.
The Indian automobile maker had last week raised $250 million from British International Investment for its new EV unit at a valuation of $9.1 billion.
Beginning with XUV400 in September, the company plans to launch five e-SUVs over the next few years.
The electric models are likely to contribute up to 30 per cent, or about 2 lakh units, of its total annual SUV sales by March 2027.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.