Not afraid of competition from Tesla & BYD, says M&M

Rajesh Jejurikar, ED – Automotive & Agriculture Sector, Mahindra & Mahindra

As a resurgent Mahindra & Mahindra pumps Rs 12,000 crore into electric mobility to launch new ‘lifestyle’ cars, CEO Rajesh Jejurikar says Indian companies today are confident of taking on competition from any global green car maker, and ” welcomes” players like Tesla and BYD to the market. “It’s not a matter of being scared. Let them come and launch something like this in India, but at these prices,” Jejurikar told TOI as the company launched two EVs, BE 6e and XUV 9e, with a starting price of around 20 Rs. lakh. Excerpt:
How long did you spend bringing these two cars to life?
From sketch to concepts that we had showcased at Banbury in the UK, to now we have done all this in a flat three years. We are now ready to start production of the cars soon. So it is the fastest development and scale-up for us, packed with really high technologies which makes our cars comparable to any global luxury brand. It is comparable on all possible parameters, except the pricing, where we are really aggressive.

Are your cars not getting too fancy in styling and technology for a market like India where consumers are generally conventional?
What we’ve found is that if you bring in the right technologies and styling, people want them. We were surprised by the popularity of ADAS (Advanced Driver Assistance Systems) when it was launched in the XUV7OO. Knowledge and interest in cars is increasing and there is a huge awareness of what is coming in. People today wait to see what’s new and then aspire to own it. I don’t think our cars are ahead of time. They will only be premature if they are priced too high, which our cars are not.
Global electrical giants like China’s BYD already have a limited presence in India (through imports), while the government is trying hard to get Elon Musk’s Tesla here. Does that worry you as they are strong and experienced?
We are able to do anything, which is worldwide. Today, it gives us a lot of pride to see that primarily Indian engineers have created these two global cars in just three years. So when it comes to global brands, it is not a matter of being afraid at all. We actually welcome them here. Let them come and launch something like this in India, but at these prices… Even after they are localized, let’s see if any of these players can do what we do.
Do you think Indian companies today are good enough to match any global competition?
Yes. Because I think what we create today is led by the local talent that we have here. More than talent, it is the passion and ability to work hard. I don’t think this can be matched by anyone anywhere in the West. Our teams here are so passionate about what they do. Their energy and passion is India’s competitive advantage.
Many people doubt the success of electrical appliances in India. What is your prognosis?
I think they should be around 30% of the market by 2030. As a country, when we start to see success with good quality products, we will move at a very fast rate in the adoption of electric cars. We have not yet seen such products in India.