Mahindra & Mahindra on Friday said it has secured 30,179 bookings for its two new electric models -- XEV 9e and BE 6. The Mumbai-based auto major claimed the booking number translates to a value of Rs 8,472 crore (at ex-showroom price). The company commenced bookings for the complete lineup of XEV 9e and BE 6 on Friday. "Mahindra Electric Origin SUVs create a new record in EV category by clocking 30,179 Bookings on Day 1 with booking value of ?8,472 crore (at ex-showroom price)," Mahindra Group Chairman Anand Mahindra said in a tweet. The split between the XEV 9e and BE 6 is 56 per cent and 44 per cent respectively, the company said. The top-end Pack Three, featuring a 79 kWh battery, accounted for 73 per cent of the total bookings across both brands, it added. The two models are priced between Rs 18.9 lakh and Rs 30.5 lakh (ex-showroom). Electric passenger vehicle sales in India stood at around 1 lakh units last year.
The split between the XEV 9e and BE 6 is 56 per cent and 44 per cent, respectively. Deliveries will begin in the latter part of March 2025
Mahindra Holidays already operates several resorts in Karnataka and is evaluating further expansion into areas like Gokarna and Hampi
The M&M share price has jumped about 4.36 per cent in 2 days, including today's gain, on the back of strong Q3 results and outlook
Growth takes root: Automaker cultivates volume momentum as farm and auto segments harvest gains
The company also posted a strong revenue growth of 17 per cent at Rs 41,470 crore
M&M Q3 FY25 results: Revenue up 18% to Rs 41,464.98 crore, led by demand for SUVs and tractors
Q3FY25 company results, February 7: Edelweiss Financial, Delhivery, Sun TV, Ola Electric Mobility, and Dreamfolks Services will be among 234 companies releasing report for the Oct-Dec quarter
M&M is expected to report strong performance for Q3FY25, driven by solid growth across its automotive and tractor segments
Backed by the positive farm sector sentiment and better terms of trade, the tractor segment is expected to report healthy volume prints, according to analysts
Mahindra BE 6 has received the highest points in the 'Adult Occupant Protection' test to date
M&M launched the BE 6e at a starting price of Rs 18.9 lakh (ex-showroom), as well as the XEV 9e at a starting price of Rs 21.9 lakh (ex-showroom), in November last year
Starting with 5000 pm sales and annual 90k capacity, M&M says it can expand it by adding shifts
Eicher Motors said it has launched some category-defining motorcycles through the year and it is encouraging to see the response to its recently launched motorcycles both in India and int'l markets.
According to sources, Tata Motors submitted an incentive claim of approximately Rs 142.13 crore based on determined sales in FY 2023-24
Technical charts show the Nifty Auto index can potentially rally another 10% to 26,180 levels; while select stocks such as M&M, Tata Motors and Ashok Leyland can surge up to 15%.
Mahindra & Mahindra achieved a 77% share price surge, leading the NIFTY50 with the highest CAGR since 2002. The company also prioritised sustainability and launched two premium electric SUVs in 2024
An above normal monsoon, healthy water reservoir levels and increase in government spending in the rural space are expected to benefit the domestic tractor industry
Automaker Mahindra & Mahindra Ltd on Monday said British International Investment Plc will make a final tranche investment of Rs 650 crore, as against earlier planned investment of Rs 725 crore, in its electric vehicles arm. Earlier this year in May, the company had intimated that it and British International Investment Plc (BII) have mutually agreed to extend the timeframe for the final tranche of BII's planned investment of Rs 725 crore in Mahindra Electric Automobile Ltd (MEAL) and would jointly assess whether additional investment is required by December 31, 2024, M&M said in a regulatory filing. In this connection, M&M said the company and BII have jointly assessed the funding requirement for MEAL on the basis of which it has been "mutually agreed that the final tranche of BII Group's (i.e. BII and/or BII India EV LLP) investment would be Rs 650 crore to be completed by March 31, 2025, as against earlier planned investment of Rs 725 crore". "Consequently, the total ...
In the past six months, the auto index on both the BSE and NSE has underperformed the market by falling 8 per cent, compared to the 0.34 per cent decline in the benchmark indices Sensex and Nifty