No price cut for Mahindra XUV400 EV

While Tata and MG have reduced prices of their EVs, Mahindra says they have no such move planned.

Published On Feb 15, 2024 11:15:00 AM

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Mahindra will not be instituting any price cuts for its XUV400 EV. 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.”

This comes in light of the EV SUV's closest competitors, the Tata Nexon EV and the MG ZS EV, recently 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.

XUV400 EV launched at introductory price of Rs 15.49 lakh
XUV400 prices expected to increase after May 31, 2024

To recall, when Mahindra introduced the facelift for the XUV400 earlier last month, it was launched at a reduced price to begin with. The new XUV400 is currently priced between Rs 15.49 lakh and Rs 17.49 lakh (ex-showroom, Delhi). For reference, the pre-facelift model was priced between Rs. 15.99 - Rs. 19.39 lakh. Thus, MG and Tata's price reduction could also be seen as a reactionary move to the XUV400's pricing.

Mahindra had announced that prices for the 2024 XUV400 would increase after May 31, 2024; even with a nominal increase in price, it doesn’t seem like the EV’s position would change much. With Tata Motors' and MG India's recent push to make their EVs more accessible, the Nexon EV now ranges between Rs 14.49 lakh-19.29 lakh, while the ZS EV costs between Rs 18.98 lakh-24.99 lakh.

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

The XUV400 is available in EC Pro and EL Pro trims; the former gets a 34.5kWh battery with a 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 for the larger battery.

In order to have a more direct competitor to the Tata Nexon EV, Mahindra is also 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:

Mahindra Thar, XUV700, Scorpio, XUV300, Bolero backlog reduced to 2.26 lakh units

Mahindra readying entry level XUV700 MX petrol automatic

Mahindra Bolero range gets up to Rs 1 lakh off in February