Pune, Jan 7 (PTI) Mahindra & Mahindra on Tuesday said it is looking to sell 5,000 units of its two newly introduced electric models per month in the initial phase.

The Mumbai-based auto major unveiled two ground up electric models -- BE 6e and XEV 9e -- in November last year with deliveries expected to commence around March this year.

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"We want to democratise the technology (EV). We want to take these game changing features (in two cars) to as many customers as possible to begin with," Mahindra & Mahindra (M&M) President - Automotive Division Veejay Nakra said here.

The company is looking to revolutionise finance in order to make luxury and premium products more affordable through various ownership options, he said.

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"The company aims to mainstream luxury by targeting 5,000 units of the BE6e and XEV 9e models per month in the initial phase," Nakra stated.

On Tuesday, the automaker introduced two new variants of BE 6e and XEV 9e priced at Rs 26.9 lakh and Rs 30.5 lakh, respectively.

The entry-level variants of BE 6e and XEV 9e are priced at Rs 18.9 lakh and Rs 21.9 lakh (ex-showroom), respectively.

The BE 6e comes with a range of 682 kilometres while the XEV 9e features a range of 656 km.

Nakra said that the two models with a driving range of over 500 kms are expected to play a major role in taking care of range anxiety for the prospective buyers.

The company's focus remains towards offering a stress-free ownership experience to buyers by addressing the primary concern of driving range limitation, he added.

M&M is creating a production capacity of 90,000 units per annum at its Chakan-based plant for the models.

The production capacity at the facility can be further scaled up to 1.2 lakh units per annum.

M&M has announced a capex of Rs 16,000 crore for the electric vehicle business during the FY22-27 cycle.

For the two new brands, the company is onboarding 500 specialists from luxury and premium brands to provide a pre-purchase drive experience to prospective customers.

Besides, it plans to have around 400 tech experts for customer experience with dedicated support from Chennai-based Mahindra Research Valley (MRV).

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