Ladies and gentlemen, thank you very much for being with us. I'm joined by a very special guest, Anish Shah, the group CEO and managing director of the Mahindra group, a Federation of companies that spans over 20 industries across more than 100 countries. Under Dr. Shah's leadership, Mahindra is not only driving innovation in traditional sectors but is also making bold strides in the electric vehicle market with models like the B6 and the XUV 9E. Mahindra is redefining mobility and cutting-edge technology. Let's delve into how Mahindra is steering towards a sustainable future, the challenges of the EV industry, and the group's expansive vision for global growth. Thank you very much, Dr. Anish Shah, for being with us. It's wonderful to speak to you once again. I suppose the first question I would have to ask you... thank you. I suppose the first question that I must ask you is on your new electric vehicles. They are fantastic to look at. They've sort of stolen my heart, forcing me to put some money away for them. But the designs are radical, and some would suggest that that would have been a real leap of faith. How radical do you go with your car designs? What is Mahindra's philosophy?
Our philosophy is to create the best products that we can for customers. We want them to be compared with products in multiple segments above where we are, and we're redefining quality for the Indian customer. What we have created in our ICE vehicles over the past few years as well as in our EV vehicles today is a very different level of quality, and that encompasses design, handling, interiors, safety, performance, all factors.
But tell me, now that we've actually got you, was it a huge debate within Mahindra? Were there discussions, disagreements on the designs? Were there those who felt that no, we need to be more conservative in how we do this? Was there a healthy debate, or did you finally just say no, let's just take the plunge?
Vishnu, we operate with a few set of principles. One is empowerment for our teams. Second is leadership behaviors that we want to drive: agility, boldness, and collaboration. And third is setting an ambition that is high enough for everyone to be inspired and they need to be able to deliver something that's outstanding. So as you look at a combination of these three things, it really wasn't a debate internally at all. The teams were empowered, there was a very high degree of agility, and in fact we've got a number of folks in our auto team, the leaders there working very closely together, and they came up with the set of designs as well as the technical aspects of the product. It's that level of collaboration, agility, and being bold that has got us to being able to deliver products such as these.
You know, Dr. Shah, about almost a year back we were having a chat in Davos and the question I had to ask you then was on the progress of battery technology for EVs. Now the B6 and the XUV 9E have a certified range of just under 682 km and 656 km respectively, based on the modified Indian driving cycle test, with your 79 kWh battery pack. That's really robust. Our driving conditions are some of the harshest in the world: it rains, it snows, it's extremely hot, exceptionally dusty. Can you explain to us the significance of the breakthrough in reliable battery technology that people can now overcome the worry that you will run out of charge before you reach your destination? How much of a challenge was that?
That was a huge challenge and that was a very important factor for us. Because if someone has a car, they want to make sure that it's going to work at all times and that they have enough buffer to take care of any exigencies. That's the reason why we wanted to ensure a range that essentially has people forget about the fact that this is electric and requires charging. Most people will charge once a week. In addition to the numbers you mentioned of 682 and 656 kilometers from a rating standpoint, we've taken these vehicles to multiple parts of India over the last six to eight months and done very extensive testing. The testing has been done in 21 cities in various rural areas, in numerous different conditions, and we have real-life data on what the range is. Yes, real life is often lower than the numbers that are certified, and we've got over 500 kilometers in every one of the 21 cities that we've operated in. We have data specifically based on the driving conditions of each city on what the potential range is. But anything over 500 kilometers is huge, and that really means that consumers don't need to worry about range at all. The other aspect is around safety, and you mentioned rain, wind, snow, sand. All of those factors have been taken into account as we look at the battery. In fact, at our launch we had the battery in fire, we had the battery in water, we had a nail that penetrates the battery, and the safety mechanism stood up extremely well. So what we're doing is basically taking some of the past concerns that existed with electric vehicles and ensuring that they're addressed in such a strong manner that the consumer doesn't have to worry about it at all.
Would you... and I'm sure you would like a lot more infrastructure on our roads and our highways. If there are petrol stations, there need to be many more ports where people can charge their electric vehicles. In terms of the future and the growth of this part of the auto industry, how crucial is that?
I think that is an important factor, but with the advances we have in the vehicle right now it's become less of a factor. This is one area we're working very closely with the government on, to identify which highways or rather which points on each highway. What you really need is a set of charging stations at a 40-kilometer gap on all the major highways in the country. That combined with what's available at home, office, and what can be put in public spaces, even like hotels, yes some petrol pumps, etc., that should be sufficient from a charging standpoint for electric vehicles.
You've also had another incredible launch this year, the Thar Rocks. Now if I was to ask you which one you preferred, your new EVs or the Thar Rocks, would you have two different teams at Mahinda fighting with you?
No, for us it's the same team that has launched both. I'm actually going to go back to one point on charging: with the technology advances, our vehicles can be charged in 20 minutes to go from 20% to an 80% charge, and that really takes away a lot of the concerns that consumers have. Coming back to Thar Rocks versus EVs, it's the same team. Both are fantastic products, both have seen tremendous demand from consumers, and they are for both rough terrains as well as a sophisticated and swappable setting in a city.
I'm just fascinated by the design variance. I mean, in a sense you've got radical electric vehicles, almost a space-age design, and you've got the Thar Rocks which is more conventional, more traditional, more along the lines albeit much modified and improved of what I've grown up seeing Mahindra vehicles like. How do you as a group reconcile the two design images? I use the word two design images, I don't know if you'll agree with me, but the vehicles look very different is my point.
Yes they do, Vishnu, and that again is by design because we want to appeal to a wide range of customers. Also, our born electric vehicles require a futuristic look because they are futuristic vehicles, and that's the reason why we went ahead with that set of designs. But for us it's important to have character in each of our vehicles, and that's what makes it distinctive. We're not coming up with vehicles that are me-too, just equal to everyone else. It's that character that sets us apart, and that's what we mean by an authentic SUV.
I think the obvious follow-up question would of course be safety. Safety has been a huge priority for your entire group. These are all cars with a five-star safety rating. How important is it that for the first time in the Indian auto sector there is a genuine concern among customers increasing about the importance of protecting lives, and how is that something which is now one of your foremost priorities?
That is a critical concern and for us it has always been our number one priority. A lot of work has been done. Protecting the consumer comes first, everything else follows, because it's most important that a family goes home safe or a person in the family goes home safe. Therefore we will not compromise on safety in any way, and that's what you've seen in terms of results that we have with all our vehicles. For us, five-star is the highest rating, but if there was a higher one than that, that's what we would aspire to.
To answer a basic question which so many disbelievers of electric vehicles would have... a lot of people would say an electric car, no, what if it catches fire? You spoke a little bit about it. Can you talk a little bit more about how the design of your new EVs... I mean they've come up from ground up, these aren't batteries installed on existing models. There is safety from the very onset of the design process. How significant is that from a safety standpoint?
