Recent price adjustments for the Mahindra XUV400’s closest rivals, the Tata Nexon EV and MG ZS EV, have closed the gap between the three EV SUVs.
Mahindra will not be instituting any price cuts for its XUV400 EV. This comes in light of the EV SUV’s closest competitors, the Tata Nexon EV and the MG ZS EV, having seen a reduction in prices. Tata Motors slashed Nexon EV prices by up to Rs 1.2 lakh, while MG Motor India introduced a new entry-level Executive trim for the ZS EV, bringing the entry level price down to Rs 18.98 lakh.
At Mahindra’s press meet for the Q3 FY24 (October-December 2023) earnings call, the brand’s executive director and CEO, Rajesh Jejurikar, said, “No price correction is expected on the existing Mahindra XUV400 EV line-up.”
- XUV400 launched at introductory price of Rs 15.49 lakh
- XUV400 prices expected to increase after May 31, 2024
The brand’s only EV, for now, was given its most significant update just last month – the 2024 XUV400 had been launched on January 11, with introductory prices starting at Rs 15.49 lakh and going up to Rs 17.49 lakh (ex-showroom, India). Available in two trims – EC Pro and EL Pro, the former gets a 34.5kWh battery with 3.3kW charger while the latter gets 34.5kWh and 39.4kWh options with a 7.2kW charger standard – the XUV400 has a range of up to 375km for the smaller battery, and 456km with the larger battery.
With the recent push to make their EVs more approachable, Tata Nexon EV is now priced between Rs 14.49 lakh-19.29 lakh, while the MG ZS EV costs between Rs 18.98 lakh-24.99 lakh. At the launch, Mahindra had announced that prices would increase after May 31, 2024; even with a nominal increase in price, it doesn’t seem like the XUV400’s position would change much.
| Mahindra XUV400 vs rivals: Price (ex-showroom, India) | |||
|---|---|---|---|
| XUV400 | Nexon | ZS EV | |
| Price range | Rs 15.49-17.49 lakh | Rs 14.49-19.29 lakh | Rs 18.98-24.99 lakh |
In order to have a more direct competitor to the Tata Nexon EV, Mahindra is working on bringing the XUV300 EV by the middle of this year. Its onslaught of all-electric SUVs based on the born EV INGLO platform – the XUV.e family and their BE cousins – will begin from 2025 onwards. Meanwhile, the SUV specialist is offering massive discounts on MY2023 XUV400 EVs to clear older inventory and make room for the new models.
All prices, ex-showroom, India
Also see:
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Mahindra readying entry level XUV700 MX petrol automatic
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