Mahindra to launch three EVs in India by 2021

India based automaker Mahindra confirmed that it is working on launching three new EVs in the Indian market.

The company wants to take advantage of its early entry into the country's EV space.

Mahindra MD Pawan Goenka during announcement of the company's first quarter financial results confirmed this news. The first model to get an electric drive will be the KUV 100, an entry level SUV. This is to be followed by the electric XUV 300 compact SUV which is slated to launch sometime in 2020. Also on the cards is the all electric Ford Aspire which will be badged under the Mahindra brand. This compact sedan is expected to hit the roads in 2021.

These EVs will complement the company's EV range which now comprises only of the e-Verito sedan. Mahindra has to discontinue the sales of its other EV, the E20, due to its failure to meet the newly announced safety norms in the country.

Although these EVs will be based on current models which are propelled by traditional ICEs, the company is also working towards developing a new platform solely for use in EVs. This platform is expected to be ready in the next 3-3.5 years. The automaker is also in the process of constructing a facility to manufacture EVs and related components in Chakan, located in the country's western region.

The Indian Government had recently cut the GST (General Sales Tax) from 12% to 5% to increase adoption of EVs. The Government also provides financial incentives to buyers taking out a loan to buy new EVs.