Okay, good afternoon, everyone. Welcome to M&M EV Day event. Thank you for taking your time and being here. We had these two events, you know, M&M Born EV vision and strategy unveiled in London on August 15th, and XUV400 unveiled on September 8th. We have been getting a lot of questions from many of you wanting to understand more about, you know, the strategy, clarifications on what we have presented, et cetera. We thought that it'd be a good opportunity to combine these two, you know, and then we have this investor event today in Bombay. Also, I'm sure all of you have seen the XUV400 product, and those who have just joined us can see that after the event. Today, we have the senior management with us today, Mr. Rajesh Jejurikar, Executive Director, AFS, Mr. Veejay Nakra, President, Automotive Division, Manoj Bhat, Group CFO, Mr. Pratap Bose, Chief Design Officer, AFS, Mr. Velusamy, President, Automotive Technology & Product Development, Rajeev Goyal, CFO, AFS, and also we have some more senior AFS, you know, officers connected with the EV. I welcome all of the entire senior management to take time and being here. Welcome to that. We'll have two sessions. We'll have a presentation followed by Q&A. The presentation first, we will cover the Born EV strategy. We will have Vijay to talk about two brand strategy. We will have Pratap to talk about the design aspects, and then we will have Velu talking about the technology aspects of the products. We will follow that with the XUV 400, which will be covered by Vijay and Velu. We'll have a Q&A. Rajesh would moderate that Q&A event. With that, I welcome Vijay to start the. Thanks, Sriram. I was expecting Rajesh to come up and say a few words and welcome all of you all, which I'm sure he will do when he comes up for his Q&A. A very good afternoon. A lot of excitement around the whole EV narrative from Mahindra, and very glad that today we will share that with all of y'all, walk you through the narrative, the strategy, the product, the platform, the brand, and everything that's going on behind what we believe will create a very strong EV strategy and delivery going forward. One of the things you may have picked up by now, whether we talk about the event that happened in London or whether the recent launch of the XUV400, you see we were talking about XUV.e8, now we are gonna talk about XUV.e9. You know, one of the things you will see that what we are communicating with the world at large is not just a vision. It's actually talking about detailing of the strategy, including a lot more at this stage about what the product will deliver, specifications, partnerships, and I'm sure you'll have questions around that, and we'll talk more about it. Can someone just see the slides. I use this. Not changing that. Anyway, no worries. While he puts the slides up. You know, from about April 2020, we've been talking to you all at multiple forums. At multiple forums, we've been talking to you all about our strategy of staying true to who we are, staying true to our core of being an SUV player. I think the last two and a half years, you all will agree that the whole journey that we've been talking about staying true to who we are as an SUV player has been a story of brand transformation. You know, whether it's the brands that we've created in the last two and a half years, whether it's the launches that we've done, or whether it's the kind of customers that we brought to the house of Mahindra, it's been a transformation journey in the last two and a half years. Any brand typically is known or gets recognized for the change or transformation only when the customers say so. We can stand here and say everything that we want, but when customers talk about it, when you bring in new customers who come in and walk into that showroom and say, "I want to own this brand. I have the pride of owning this brand. I want to experience it and use it," that's when you measure success, and that's how you know that you are on the right path of transformation. I think this slide, we've kind of tried to summarize and capture that from being known as a brand that makes tough, rugged, off-roading adventure products, today we our brands are aspirational. They are owned and bought by millennials. They are owned and bought by people who currently do own multinational, premium German, American, Japanese, brands. As a strategy, the transformation seems to be moving in the right direction, and we have a host of new customers who own the Mahindra brand or the nameplate. Now, as we move forward, clearly, you know, we've also been saying that electric is key to what we will do in the future, and it is a part of our purpose statement. Clearly, having made this transformation and given it the Twin Peaks as a brand, bringing in new customers into the fold of Mahindra, we clearly saw an opportunity of a two-brand strategy when it came to EVs. It was time for us to now bring sports into the EV category, into the SUV category. What better way of doing that than manifesting it by taking the current Twin Peaks brand of ours, which is, where we house a lot of our iconic strong brands like Scorpio, Thar, Bolero, XUV, et cetera. Then understanding and realizing that in the EV space there is an opportunity of a full new design language, an opportunity to bring in a whole new set of customers, a brand that would stand for taking the core from Mahindra as a brand and building on that. Hence we created two strong pillars of nameplates or brands, the Twin Peaks as well as the BE. I think this slide, in a sense, summarizes that the Twin Peaks will honor the legacy of who we are while embracing the future for those who have the passion to live life beyond boundaries while making a difference, authentic yet futuristic. At the same time, as you know, we spoke about BE as a brand. BE, which is about opening new spaces to a completely reimagined world for those who want to define their life's journey and be who they want to be. I think the key words is audacious over here and trailblazer. It takes and builds on who we are and allows us to create two very, very strong nameplates in the portfolio. Of course, under each one of them, we have a series of products that we've already kind of spoken and put out there in terms of what we will bring and the entire philosophy of design, brand, architecture, product behind them, and how well they will complement each other at the marketplace. Understand a little bit more around that, I'm gonna ask Pratap to come in, who's spent a lot of time contemplating and thinking that while we want to create these two strong brands in the portfolio, how do we ensure that we minimize cannibalization? How do we ensure that we make both of them equally strong and powerful? With that, let me call Pratap. Pratap, over to you. Thanks. Thanks, Vijay. Hi, everyone. I hope the lunch hasn't made you too sleepy. It's quite an exciting day. The good thing is that all of this is really fresh. You know, 15th August, and then 8th and 9th of September, just 3 days ago. And this is part of that, you know, our unveil of the electric vehicle strategy, story and implementation. So how do you get an organization to be ready for the future? One of the most important things are, of course, the people. You have to have the right people in the right places to be able to do this or deliver on this ambition. That means a complete sort of relook at every part of our business. You know, since I'm from design, I looked at design capability as, you know, my specific focus area to be able to handle or approach and even define the future. That's very important. Now, as you know, we have a design studio right here in Mumbai, in Kandivali. We're expanding that as well. You know, we are growing that in terms of physical space, in terms of team size, in terms of capability and capacity. So that's sort of two-pronged. We are getting into areas of design which we earlier didn't do. So for example, you know, human interface design or HMI design. These are some new areas we are opening up. We had, of course, also as a group partner company, Pininfarina in Turin. We have used them on multiple projects on a project basis. Just as recently as last year, we established MADE in the U.K., and we formally opened its new premises, as Vijay alluded, on the 15th of August. Now, all these three studios, the two in-house ones and Pininfarina are completely capable of end-to-end design. That means working with Velusamy's tech centers in MRV in Detroit, we are able to handle every part of the design process. This is very, very important. Few companies have this capability, and we are able to do that on an international basis. Using the three different geographies. You can understand why we have these studios where they are placed. You know, Mumbai, of course, that's our headquarters. It's also an epicenter of culture. It's important to have design in places that lead culture. There's no better place than Mumbai. Turin, all of you know, historically is one of these automotive centers in Europe and now in Banbury, in Oxfordshire. Why Banbury, Oxfordshire? Our eRacing team, Mahindra Formula E team, actually shares the campus with us. We have this. Vijay said, put sports back into SUVs. You know, eRacing is at the pinnacle of electric formula racing. We have this real dream or ambition to bring race technologies to the road, race technologies accessible. You know, the thrill you get while driving an EV, a lot of petrol head journalists used to worry about, you know, EVs losing character and the smell of petrol and God knows what else. Once they drive our cars, there's no going back. The race to road story ties up very well with Mahindra eRacing and in terms of human and physical equipment, again, state-of-the-art. We use a lot of digital technologies, and some of the work that you see here is created in just the last one year. We've probably saved 40%-50% of time in just the design process, which shows you the urgency that we have as a company, of course, but also the ability to go at that speed. Okay. I think someone earlier was asking me about the design philosophy across the products, and we all know that we have four iconic brands in the Mahindra family. These are brands in their own right. You know, I always joke with Vijay that someone who buys a Thar doesn't buy a Scorpio or someone who buys a Scorpio doesn't even consider an XUV. That's they are not sub-brands. They're really brands in their own right with cult following. They have fans and, you know, and it's something extraordinary. I think we are one of the. I mean, you can correct me if I'm wrong, we are one of the few companies in the world who've got such well-defined brands and the club or the group of people that go with those brands. Thar, we all know, is iconic. It'll always remain iconic in whatever form we bring it. Bolero, you close your eyes and think of a Bolero, it's this solid, chunky, go anywhere product. That's its design philosophy also. Scorpio and Scorpio N you all saw recently. It's all about muscle. You know, its performance is about muscle. That's why people buy that SUV. XUV is about athleticism and therefore we chose the XUV as the first brand to electrify because it was so natural to electrify an athletic brand. We've of course launched this under the Copper Twin Peaks logo that you saw. Final is electric. Electric has its own design language. You will see that some of the products that we showcased on 15th of August, you know, literally less than a month ago, and many people saw those products and said, "Yeah, this can't be anything but electric." It's important that the design language meets or matches the product you're gonna show. Unmissable presence is of course one of our, let's say, pillars of design. That means when a Mahindra car or SUV vehicle passes you, is parked, is in front of you, is in your rearview mirror, you have to notice. You know, a Mahindra vehicle is not something that you don't notice. You always notice a vehicle, so it's always got this presence. Any of those four brands that I spoke about, you can see if there's a Thar on the road, people will turn to look or stop and take a look. Same with the XUV. The XUV700 is a great example. When it's in your rearview mirror, you really notice. So the same thing had to be done with the Born Electric vehicles. Velusamy will speak why Born Electric, why we call them Born Electric. There's a fundamental architectural difference, and he'll speak to you about that. What it does is, again, someone was asking me earlier when we were chatting, what it does is it gives you it really opens up the canvas of what you can do. You know, when you're not you don't have a space for a internal combustion engine, it allows you to reimagine products and that's what we've done with the, with the five products that we showcased. Can we have the Born EV, please? Yeah. I hope that sort of illustrates in, you know, 120 seconds what the next four or five years is about. You know, when we showed these cars, we got a lot of feedback that, "Oh, very nice concept cars," you know? Yeah, but what's the reality gonna be?" I can tell you that, you know, three of these cars are in very advanced phase of engineering and design. You know, the December 24th, 2024 date that we've committed is what we are gonna stick to and then, you know, the launches subsequently. These are not concept cars. These are all sort of reality that's gonna unfold in two years. We are confident because we've been working on the production car phase at the same time as these concepts. That's, you know, the strength and power of this INGLO. You may have just noticed there's a architecture is called INGLO. What does it mean? It's usually car companies define their physical architecture, and they give it a name A, B, C, X, Y, Z. You know, I'm not gonna take any other names. Then the HMI experience is something completely different. You know, the man-machine interface. What we've done is combined it, and INGLO is that combination of the physical architecture as well as the experience. Because we feel, and we are sure that ownership of cars in the future is gonna be as much about, you know, experience within the car as it is about driving it and owning it and charging it and other things. As you must have noticed, we have this, you know, what we call edge-to-edge display. The edge-to-edge display is actually three screens seamlessly blended together, and they will create a really beautiful, organic, intuitive experience as far as the HMI is concerned. Now, we'll just walk you through that in a few seconds. Can we have the second AV, please? This is, let's say, a girl called Dia. She comes into her car in the morning, and she wants to go to work. Dia, of course, is welcomed by the car. It recognizes her. It chooses all her pre-settings. She doesn't have to do anything. She literally just sits in the car. It personalizes the whole car for her behind the scenes, not a button to be pressed. She, with a friend, goes towards the office. This third screen is where the friend or, you know, partner is taking a call for work, but Dia is focused on driving. If there's a warning of any sort, if something comes in front of them, you saw the red warnings, very subtle, very beautiful. There's also the thrill of driving, like I spoke. There's a G-meter, there's acceleration. You know, when she steps on the gas, that G-meter shows, visualizes how the car is behaving. The person on the left, it's an entertainment center. They can watch a film. They can watch clips. It doesn't disturb the driver. Then, of course, they reach their place of work, and the car parks itself. It's auto parking. All the ADAS technologies that Velu and team are gonna build into the architecture. She sets the car to charge and carries on with her day. This is just a small glimpse of what INGLO will mean in terms of physical architecture, but also in terms of HMI experience. I hope, you know, those five or six minutes was exciting for you. It's always difficult to speak after lunch, both for the speaker and the listener. You know, please catch us later if there's any further questions. Then without any delay, I think, to get into the real details of INGLO, the architecture, and these products, I invite my dear colleague, Velusamy, to take you through the next part of the presentation. Thank you. Velu. Thank you, Pratap. Every time Pratap, I hear Pratap, then I become a child in front of your mother. What you see here is the INGLO platform. There is a phrase that the speed of the ICE engine is decided by the speed of the flame inside the combustion chamber, which is 35 cm-40 cm per second. Do you know what is the speed of electrons? Close to 95% of light speed. Light speed is 300,000 km per second. There is no comparison between ICE vehicle and electric vehicle. The electric vehicle is truly a sport vehicle, and truly you can bring race to road. That's what Pratap has imagined, a hardcore design with the Heartcore technology, that's EV technology. He needed some platform, and that's INGLO platform that we created it. What you see here is the common underbody that goes across multiple products. I'm sure you are interested in many numbers. I'm going to come with the numbers for you. This platform is the most efficient and gives the highest speed to the vehicle, and flexible and adaptable. Let me get some details of it. It has 250 kW-290 kW electric machine. In other words, you can say 500 BHP electric machine that's sitting. Actually XUV700 has, you know, 200 BHP engine, so there's no comparison when it comes to speed. That's why you see 0-100 in just 5 seconds. It has variable lengths, it has variable widths, and it has variable overhangs on both sides, and a little bit flexibility on the wheelbase. This platform can go to multiple products. Platform is the heaviest investment that you need to do in electric vehicle because, you know, you have three components in the platform. One is the battery and e-motor and all the power electronics sitting underneath. The steel structure that handles the crash and handles the sitting structure and the front end and the rear end of the structure, and then the vehicle electronic system, which is the three screen that you saw it. That's the most expensive systems to develop. Incredible fast charging, 80 kWh. 80 kWh means you need 160 kW in 30 minutes. If you pump one hour, 175 fast charging, then in 30 minutes you can pump 80 kW. 80 kWh is the battery. If you get battery is 80 kWh and you need a fast charging of 175 kW, and this machine has that. Our target is to give it in 30 minutes full charging, and that's what you are seeing it here. World-class safety, we never go down below five-star and then, therefore, this is designed for five-star safety. There are certain components that we take it from MEB, which is suitable to our platform, and that we have done the term sheet supply agreement with them, and that will underpin the INGLO platform. It comes with quality, it comes with the production and experience, it comes with the software. We are also discussing with them for the vehicle projects, charging and energy solutions, and cell manufacturing as declared. Intended volume is over 1 million, as you can see it here, over the 4 vehicles or 5 vehicles that we are developing. We talked about the platform, INGLO platform. What we found while developing the INGLO platform is you can have a platform, but the differentiation has to be in the overhang and in the vehicle height. The front overhang nearly remains the same, but if you are able to differentiate in the rear overhang and in the vehicle height, you can create many different vehicles, and they do not look very similar. You need to be very careful when you do this. You are trading off the space for 80 kWh battery. That's the wheelbase. You cannot develop every time battery, so therefore, you have to keep that optimal. If the wheelbase is longer, then you will have the turning circle radius problem in the city, so you have to get an optimum one. There are cars that have 3,000, but we have chosen 2,775. In 2,775 if you have to get an 80 kWh, you have to do certain innovations on the battery. When we did that, it takes us to the cutting edge of the technology in the battery that we will explain, and the vehicle dynamics we are able to control with the technologies in the suspension semi-active. That's the core thing that we have taken care. It's a futuristic platform, a state-of-the-art platform. It's not a copy of an existing platform. What you see here for Indian road conditions, you really need the forward visibility and side visibility and the seating position. 750 mm of the distance of yours is the most ideal position to see at a distance the upcoming traffic. That's the most important thing. You need a ground clearance of 218 mm. You don't want to damage the battery when in unknown situation in the speed breakers when you are coming very fast. If you do not notice it, you don't want to hit the speed breaker with the battery, which is very, very costly affair. If you damage it. You see it already, up to 190, you see it in the benchmark, world benchmark, but the INGLO is designed for 218. Command seating position, we already discussed. Forward visibility, we have already discussed. In a way, this becomes specific to India market, this platform. When you go to Europe, you will really reduce the ground clearance because you don't need it, but you can do it with the suspension tuning, adaptable suspension tuning. I talked about battery. We have an energy density or like energy of the battery from 60 kWh to 80 kWh, entry to top variants. We have both the cell chemistries, LFP and NMC, so we are not dependent on one cell chemistry to take care of the supply and situations. We have both the types of architecture, blade and prismatic. In order to get 80 kWh within 2,775 mm wheel track, the wheelbase, we said we need to find a solution, so we go for cell-to-pack. Typically, today, what is in production is you have a cell and you have. You put the cell into the can, you call it a module, and then module, you pack it into the battery pack, into the housings. What we directly take, we take the cells, we aggregate it, we don't put a cover, we don't use the available space for any other reason, any other material other than cell, so you call it as a cell-to-pack. This technology gives us 73% of the volume is used by the energy-producing cells. The rest of the volume is used for safety, crossbars and longitudinal bars that you see it here. This is first time that we will come. There's one company that has already released it, 72%, and we are 73%. This already gives you an idea about the battery technology for next 7 years, 7-8 years, where it is going to be a cutting-edge technology. Charging power that we have discussed, we have 175. Typically, charging power, what you see in Indian market currently is 50 kW, but this will come with 175 kW. In the cell chemistry, we talked about LFP cell chemistry, you know, that for a hot climate. When you go to 80 kWh, hot climate conditions, LFP is more preferable. When you are operating with 30-40 kWh, you can always use NMC. When you are top-end and you want acceleration, you want a limitless flow of electrons in current. The torque in ICE world, in EV world, it is ampere. How many ampere you are able to flow through the copper wires, that's the point. The better the cell chemistry, the more amperes that you can flow through very, very fast and you can get the torque, and that's the idea to get it. LFP cells have got 10%-15% cheaper. Therefore, the technology gives safety and technology offers you the best reliability and also the affordability, you know. It does not have the cobalt and nickel, and therefore you have the supply constraints removed already when you choose it. We also have the NMC version in case LFP gets into trouble. As the EV is migrating, you don't know which way this will go. You need to protect both. It's like gasoline and diesel. Nobody can predict which way the world will move. The motor that already you see it, 80 kWh battery. The range is given there. There are three cycles that you can define. 450 in WLTP means you are about 675 km in MIDC. For reference, the most sold in India, the vehicle has about 435 km or 436 km MIDC part one. That you are comparing with 675, 650-675. It's a huge difference. If that is 30 or 40 kWh, we are talking about 80 kWh. 30 means 60, 40 means 80. We are talking double. We are not talking about 30% increase and 40% increase. The machines, PSM machines, very high efficient machines that we are using. All-wheel drive, 6,700 newton-meters. Benchmark is up to 6,300. This is the world cutting-edge powertrain technology that comes at par with anywhere that you can find in this segment in the world. Safety. Most important thing, you have to protect the human, you have to protect the battery. For the battery, we have two measures. One is the chemical stability, and another is the stop thermal propagations. When this vehicle comes into production, it will bring future norms of safety into India. Nowhere you have heard about stop thermal propagations, but this vehicle will come with that technology, and this will never catch a fire. That's the design that we are doing. Frontal crash and side crash, as you see, is heavily done in order to protect the battery and also the occupant. We have a special aluminum extrusion reinforcements introduced around the battery in order to secure the battery in the event of a crash. Suspension, I talked about always the electric vehicles are about 300 kgs-400 kgs or higher. The springs have to be stiffer. If the springs are stiffer, then you get all the road inputs directly to the. Therefore, it needs a different suspension system. The EV vehicles have got a different suspension system, and that's called a semi-active technology we bring in in our vehicles. It's a part of the standard offering that we do in our platform. The platform is fitted with this semi-active suspension technology for an 80 kWh. As I told, in order to reduce the turning circle radius to 10.5, we have got the front suspension totally redesigned, which allows the tire to be moved. If you take an ICE vehicle and if you convert it, you can never do that. The other biggest improvement in the platform that biggest step that we are doing is the high-performance compute system. This is the future. If you see battery and motor are the future for the drivetrain technology, for the vehicle technology, for the customer engagement, what is future is the cockpit domain controller. The three screens that Pratap Bose has shown you is the cockpit domain controller. Today, we have 6 GB memory. We are going to 32 GB. It's huge increase. All calculations we can do. Autonomous L2+ we will bring in. ADAS we have already, but we'll bring in a L2+ driving. Vehicle dynamics, semi-active suspension system will be completely controlled from a central computer. We will have SOTA and FOTA, driver monitoring, occupant monitoring. We have Alexa. We will have 5G compatibility. We will have V2X communication system installed. Panoramic display that you saw already. HUD, ARHUD with a 360-degree system. We will have it in our car. Plug and play and ultimate connectivity with the 5G. BE.07 BE.05 BE.09 e9 e8 starts with the December 24th, 2024, e8. April 2025 will be e9, and October 2025 will be BE.05. They are in tooling stage right now. We are releasing one by one tooling stage. October twenty-sixth is in the design freeze state, right now. We are way ahead of what you see. These are the real designs. We are not going to change a millimeter on these first three cars from the last. We are not going to change it because it's already going for the tooling phase. XUV400, may I invite Vijay? Thanks, Velu. Just for everyone's knowledge, the last slide that you just saw where you see the XUV.e8. In U.K., we actually had a driving vehicle of the XUV.e8. So that's what I meant when I said that it's not just a vision, it's a reality with the first vehicle made for people to actually drive and experience. That's what we, you know, we had for the media in U.K. Coming closer to home, we'll now talk about the XUV400. As you're aware, on the eve of the World EV Day on 9th, we actually unveiled the XUV400. Before I talk a little bit about it, maybe a good idea for us to begin this with a nice fun video, which is what the TV commercial is of this brand. I'm just gonna request you guys to play it, please. XUV 400. XUV go, we go. We running on the street. We going for the race. We the best, let's cut to the chase. XUV 400. Electric is the craze. Live big, just feel the space. Jump in, on the base. XUV 400. X-U-V. We go, we fly. We love, we ride. On your desire. XUV 400. XUV go, we go. XUV 400, we run. XUV 400, we love. XUV go, we go. XUV 400. we go. XUV 400. XUV go, we go. We go. go, we go. We go. You can see again, for a very different segment. For the youth, fun, fast, and at the same time, planet conscious. Hence we say, "We fun, we fast, we electric." Now, you know, clearly what makes success of a new launch or of a product is the segment, both from a market perspective, the consumer segment that we target, and at the end of the day, what is the proposition that the product has? What is it that it brings to the category? Very quickly, let me share with you when we talk about market segmentation, where is it, what is the TIV and where is it that we're targeting? Now, clearly, when you look at the EV space from an opportunity point of view, there is the B segment and the C segment. Kind of define that for you just from a perspective of length. The B segment is typically 3.8 meters-4 meters, and the C segment is between 4-4.5. If you look at the TIV, the B segment obviously is larger at about 66,000 per month. There is one EV brand in that segment, which has about 3.5% share of that segment. Likewise, if you look at the C segment, it's significantly growing, which is currently at about 32,000. We have two brands there, which collectively together is less than 1%. Now, with the XUV400, when Velu will talk a little bit more about the product, you will see that from a proportion specification, the product, what it brings into the category is something that will really allow us to create a new category. Something that will come in a sweet spot to take both from B and C segment in terms of size, proportion, features, performance, range, everything put together. The second part, as I did mention about, is the customer segmentation. I think the TV commercial gave you a glimpse of what we mean by the target audience for this product. What's interesting is in a research that we did in terms of asking customers what would their next vehicle purchase be, and 25% thereabouts of customers said that their next vehicle will be an EV. Tying this back to, you know, what we spoke about in terms of who we are and what is our purpose, clearly, when you look at the segmentation, there is one set of customers who are looking to buy an EV as a second vehicle in their ownership of vehicles, primarily for short distance usage. Then you have a second segment of customers who are actually looking for economics, for home, performance, range. It's more about going from point A to point B, and what's the economics of what I'm owning and buying. Then you have the third segment, and especially in the post-pandemic world, it is the segment which want to live life to the fullest, and they want to front load their life. They want their experiences now. They want to live unplugged, and they want to do it now. There is no tomorrow. It's not about saving and trying to live a life later. It's about living in the moment and enjoying life now. That is the exploding category in India, and that best lends itself towards SUVs. I'm just going back to where we started from, which is about bringing the sports back into EVs. This segmentation strategy product all ties back in with our purpose, which is about living life boldly, at the same time, caring for our planet. It's about creating sophisticated and authentic SUVs which are sustainable and allow the consumers at the same time to have the spirit of exploration. This is the first product in the EV space that we bring out. We bring it on Twin Peaks as the brand. This will be the first product which will carry the Copper Twin Peaks logo on it, which will house the Twin Peaks logo. Now the third part, which is what I spoke about as to what fits in to complete the strategy of success, is about the combination that the product offers. I think one thing you all will agree, whether you look at the launch of XUV700, whether you look at the Scorpio-N, when we bring a product into the category, we create disruptors. What's going to make this a disruption is the number of best-in-category that it will offer to the customer. Whether you talk about acceleration, I'm not gonna take the thunder away, but Velu will share with you the details. Best-in-class acceleration, safety, never a compromise at M&M. You've seen all our recent launches, four-star, five-star GNCAP, best-in-class style and space. You will see when Velu talks to you about proportions. It brings the beauty of compactness in terms of footprint, but maximizing space within the cabin of people as well as luggage compared to any other product in the category, and most important, best-in-class range. Now, I did mention that on eighth we revealed the XUV400 because there are a series of events that will build up between now and January. On eighth we did the product reveal and we did the media drives. You'll have all seen the raving reviews that have come out from all the colleagues from the media fraternity. We are kicking off our fun fest starting from October. We plan to launch the product to begin with in 15 cities. We will have a series of fun fest events which we will take across these markets. We will start test drives and display the vehicles in the showroom starting from December. We will announce price and open bookings in the month of January, and we intend to start deliveries in the end of January. Through the series of events that we will do, we will have this build-up to get to bookings and deliveries starting from January. With that, let me now call upon Velu to walk you through the product truths in terms of what is it that the XUV400 will deliver. Velu, over to you. It's going to be fast. What you see here is a global consultant that helped us on, that is, on the vehicle side, on right side what you see, and left side is a consultant that helped on the powertrain side. The battery is designed and tested by AVL, Bluesun and Valeo. On the vehicle side, all the EBS, ABS, all the technologies, suspension technologies, done by those consultants. It's a collaborative effort of worldwide consultants from left to right. Electrifying presence. SUV-ness, space, performance, safety, fun, fast, electric. What you see here is the C segment and not the B segment. 4.2 meters, 1,821 overall width, widest car in this segment, and 2,600 wheelbase, fitting exactly to the C segment. Comparing to B segment, one of the best-selling cars, you are way ahead in terms of space, 2,600 mm of wheelbase, so you have a second row, first row, having a fantastic space. 1,634 overall height, so the stance is completely different. Overall length proportions, they are completely different because you are 200 mm more. You get a boot space. Visibility, front visibility, side visibility, and seating position that you see it, Mahindra never compromises on these three parameters because we are a SUV company. Cabin roominess, as I said, close to 50 mm in the first row and boot space of 418 liters. The battery pack that is designed three years ago when we started, we know that we need 40 kWh for a decent range. We get a range of 4, 5, 6, you can remember this number. As I said, we have 50 kW and therefore it takes 50 minutes for a 40 kWh. You know the calculation that I said. IP67 compliant, so it's waterproof. Highest energy density it has. Coming to acceleration that you can see, you drive this, your heart starts to race along with the car. Not the car races, but your heart starts to race. 8.3 is very incredibly low number compared to boring 9.7 or 9, isn't it? Yeah. You have the fastest C-segment electric SUV in the country, including INR 50 lakh category. You drive it, you feel it. The difference is that in an ICE vehicle, they say the torque of 350 Newton-meters -400 Newton-meters, but you get at 1,750 RPM. Whereas in the electric, you get at 25 RPM. You just press the pedal, bang on, the torque comes. The turbo lag that you see it, you don't see it in an electric lag, because as I said, the electrons moves, you don't know. That's the reason that why electric vehicles are going like this. Safety, as Vijay mentioned. We protect both the passenger and the battery. What you see in the bottom is the cage for the battery. In the event of any undesired accidents, you are well protected. You have a third load path introduced compared to the ICE in order to take the distribution of the load, because the ICE, the EV vehicles are about 250 kilos- 300 kilos higher, so you need an extra load path to take care of it. We have redesigned significantly the underbody and the front end of the body and the side of the body. You can see it about 10%, where the battery is sitting, we have an ultra-high strength steel. Coming to lively mode with intuitive AdrenoX features. You have one pedal driving that takes care of as soon as you press the pedal, it accelerates, and when you take the pedal away, you. The vehicle recognizes your intention to brake down, so it automatically brakes the vehicle. Accelerate, and decelerate and stop using only the accelerator pedal. The single pedal drive technology has been brought in. Particularly it's very helpful in city drive. Elegant blue-themed infotainment embedded EV statistics. You can see the range, you can see the charging conditions, how much is left out, and all the information that is displayed here. Drive modes, you have three drive modes, fun, fast, and fearless drive modes. They have different the regeneration modes in built in it. We have 60+ connectivity features. BlueSense provides it. You can open the doors, switch on the AC, to switch on the headlamps, all that stuff you can do. Plan your trips, find navigation, find charging operating systems, charging systems. Can connect your stops and then you can see it. It comes with the vehicle fast and fun-filled with connectivity technology. The battery technology that enables 456 km range in MIDC with the fastest 0-100 km in 8.3 seconds. Fun to drive. Thank you all. You have it on? No. We'll get started with the Q&A. Thank you for the patient hearing. How much ever we tried, I personally tried to tell Velu and Pratap and others to go fast, but they're just too passionate about it. With all the looks that I give from all directions and cut back the number of slides. We weren't bad. We managed it in 50 minutes. Sorry about that. We are okay to overrun from our side, if there are more questions. Maybe we can go on, Sriram, for 45 minutes or so till 5:15 PM India time, if it's okay with you all. Depends on your questions. We are open to Q&A. Whoever wants to take the first question. Sriram, will you help us with what is online separately? Yeah. We'll take the questions here, but when something is online, then you can. Can you also turn down these lights? Yeah. 'Cause we can't see. These 3 ones. Okay. Yeah. Good evening, and many congratulations on one more blockbuster, potentially blockbuster product. Fingers crossed. So my first question is on you know, some of your competitors have recently launched hybrids as well in this category, and you've seen the pricing and everything. Just from your perspective, if you could explain you know, why you know, hybrids don't form in the scheme of things for you. Second question is, when we look at EVs versus ICE, and as we move ahead a few years down the line, what will be the competitive advantages that you will have in EV world compared to ICE world? How would they be different? Is there a significant first mover advantage in your view? Okay. I'll take the hybrid question first. Velu, Vijay, if y'all want to add in a comment. You know, let's be honest. You know, we don't want to take multiple initiatives which we can't execute with the resources that we have. We have to make some bets and put everything behind making it happen. Right now we think EV is that right bet to make. We'd rather be all in rather than, you know, try and do multiple things. That's the first thing. Now, the question is then why is EV that bet, and why not hybrid as the bet? At least with, you know, for us, of course, we will go global like, you know, Velu spoke about with the born electric platform, but our primary market will be India, and that's what we are creating the product for. The Indian government is very, very clear about the EV transition roadmap. In India, as all of you understand more than other countries in the world, energy security is a key driver. The foreign exchange impact on the Indian economy is a key driver to why the government wants us to move electric, and of course there's climate as well. It's a combination of all of that. We see the government continuing its EV push in a very strong way, and we would rather be ready and all hands in on that EV journey rather than distract ourselves trying to create multiple things. For those of you who got a chance to drive the XUV400 around right now, you make out why it's such a different experience. It's not just about, you know, buying a product for the economic benefit out of it. It is really a very different user experience. The noise levels, the acceleration, the pep, the use of technology in human machine interfaces, software. It's all gonna take the product to a very, very different level. We really think that's the path to go. Maybe let me pause here, see if Velu or Veejay want to add anything. Not on the first one, but on his second question. Yeah. Velu, you wanna add anything on the first? I don't. Okay. Is that okay for you, or do you need a follow-up on that? Yeah. It's fine. It's fine. Yes. Okay. On the second, Vijay, you wanna- No. Yeah. I mean on the second one, do you wanna go first on his- Yeah. I think your point on how will we create differentiation and a strategic advantage. You know, I think one has to always understand that as a package that you bring in for which segment and at what price. You look at what we did with XUV700, we disrupted because we were able to bring first to a category at a certain price point. If you look at the specifications that Velu put out on INGLO as a platform, and I'll come to XUV400 after that. Right now I'm just talking about products coming on INGLO as a platform. Whether you look at the design or whether you look at the combination of range and performance, coupled with a three-screen HMI interface that we will bring in, is what will create the differentiation. Let's take BE.05 as an example. The way that vehicle has been designed, it's very, very different compared to what any other EV will bring in that 4.3-4.5 meter length EV space. I mean, if you saw the images of the interiors of the vehicle, we've actually created a sort of a race driver seat cockpit. Now, see, these are the things in terms of design, experience, HMI, performance, which as a combination together will create a differentiation. Or let me put it this way, it'll allow us to create a category when it, you know, when we launch these products. Just want to add to that. I think sharpness of where we want to take our brand is a very critical part in everything that you're seeing play out. We are designing product, technologies, all of that to live to a certain position and aspirational value we want to create for our brand, while still being frugal in the delivery, like Vijay said. At the end of the day, it has to hit the right sweet spot on the price. Everything that Vijay just spoke out is coming out of that context, where it allows us to be very clear because we want to be bold in our design, and we want to be distinctive in the offer. Once we decide that, then we are not thinking about, okay, are we gonna get another 30,000 volume by selling to Ola and Uber. I mean, that's not in our mind at all. We're not designing for that. We are not designing to play these top hats. Because once you start doing that, then you start operating at the least common denominator of your product offering, and you start, you know, trying to second-guess every customer segment. We're not doing that. We're very, very focused on what we want to deliver, and that allows differentiation. Velu, sir, I'll like to hear from you as well, you know. Because my question was also that, you know, when you are making ICE cars and now that you'll be making electric cars, what is it that is different? Where do the competitive advantages lie in ICE and where do they lie in EVs? That is what I really want to understand. You should see it in two different buckets. You have a 30 kWh -40 kWh platform, and you have a 60 kWh -80 kWh platform. We do make ICE converted vehicle, XUV400 is from ICE but heavily modified underfloor to fit the battery. Intermediate version, you need it as a transition to EV, but transition to EV is limited up to 40 kWh. Beyond a point, if you convert the ICE vehicle, you cannot increase the energy density beyond. But the 40 kWh is just giving 456 km, and you don't get it about 650 km. If you want in real world 400 km, city to intercity drive, then you need 400 km without it, without charging, right? In one charge, you must be able to go to the other destination. In an MIDC 650 km, we are talking about real world of 450-475, depending on how you drive, right? That kind of battery pack, if you are to bring 60-80 kWh, it is not possible to do it in an ICE converted vehicle. His question is, in ICE, what is your competitive advantage versus in EVs? If in a In a regular ICE. In a regular ICE. That's right. Right? That's right. I think Velu's interpreted that to mean ICE converted versus. ICE converted. versus Born Electric. Okay. So in the- Thank you. In the ICE that you are able to come very quickly and then you have a battery pack of 40 kWh, and you have an electric vehicle that's for an between INR 15-22 lakhs. In that bracket, you are able to come very quickly to the market. You are able to get into the EV domain. You learn it, and you have a product like XUV700, XUV400 that you see it, you get the product very quickly, and you use the investments already you made it for ICE. No, actually, let me explain my question. What I'm trying to say is that, you know, when you look at, you know, ICE products, you make the engine, for example, over there, and, you know, it requires a certain skill set probably. I don't know, you know. You will be in a better position to answer that. Whereas in EV world, you have the battery, the motor. So what I'm trying to understand is when you take a ICE SUV or ICE car and you take an EV SUV or an EV car, where do the competitive strengths lie? You know, what is it that you need to succeed in both of these different cases? Let me try and take that, and then maybe Velu can chip in. Yeah. A lot of our success in ICE, firstly in the more recent past, has actually come out of the very, very good quality diesel and gasoline powertrains that we've created recently. You know, as you experience any of the new launches, I mean, that's a key differentiating factor. Also, like Vijay said, I'm not talking generically, sorry, but I'm just trying to focus on what has been our competitive advantage in ICE and what do we think will be our competitive advantage. Sure. In EVs rather than talking industry categories, so on and so forth. Sure. Our powertrains have been very, very distinctive. In the more recent launch, like XUV700, especially the use of tech at a very, very affordable price, has been a key differentiating factor. It's feature packed, but the platform and the, you know, refinement of the product is now at the highest price point levels, right? For a customer who is used to driving a vehicle which is INR 40-50 lakhs, what they are getting is the refinement of a INR 40-50 lakh vehicle with that kind of a feature and tech offering at a price which is half that. That is the basis of competitive advantage. What of that will replicate in the EV space? Yeah. We don't think the battery pack itself is gonna be a differentiating factor because, you know, as Velu explained. How you package it, integrate it, manage the weight, get the range, which is the integration part of it, is gonna be more important than just the, you know, buying of the powertrain per se. For us, the way we are thinking about it is the two key factors around difference. Competitive advantage will be the design. Mm-hmm. The whole use of tech and human machine interface. Okay. Giving the whole ecosystem of around the integration. I'm not talking about the battery charging ecosystem, but the offering around how we manage range, weight, performance, acceleration and all of these trade-offs. It's the choice-making that's going into the product, by way of what levers do we want to give our customers. Again, that brings us back to the distinctiveness of the brands, and hence the need to have two brands, right? I'm just building back again on Veejay's points on why two brands. You know, as we take Copper Twin Peaks through, you know, we're starting with the XUV, but over a period of time, so will all our iconic brands can be electric. We don't want to get restricted by the Mahindra design language which is in play today for SUVs, because electric customers who are buying electric may want a very much more modern, younger, vibrant, sporty, design language, and the BE brand allows us to do that. In a way, we are allowing ourselves to play two customer groups through two different design language, and hence design and brand become a differentiator. Sure. Thank you. Yeah. I think we should move on to another, even if you are not convinced. Hi. Thank you for the opportunity. What is the investment in the INGLO platform? You have talked about, I think, 1 million units of volume. How is it materially different than an investment in an ICE platform? That's my first question. Yeah. We're not actually breaking down right now the investment on what is going to platform and what is going to top hats. Maybe at some stage in future we'll do that. What we have put out right now is that we are investing roughly about 9 thousand crores -10 thousand crores, which is in a way what we had announced when we had announced the forming of the new EVCo. Where we are saying we're basically gonna be investing about 10 thousand crores. That company, as you're aware, has got valued at about $9 billion, out of which initial funding is $50 million from BII and $50 million from us. That's what covers us for the fixed cost of the platform. The XUV400 moves into that, will move into that new company. The cost of at least the three products and maybe one more. Broadly, that's the INR 10,000 crore covers the complete cost of the platform, all the related manufacturing and the investments around INR 400 crore. The top hats. Yeah, the top hats of the products. Not just the platform, including the top hats. Yeah. That's broadly the way it is. From internal point of view, which we're not yet putting out there in the public domain, this is broken up by way of a platform cost which is separate, allocated to the costs of the products. Platform becomes a common investment, which is then leveraged across the individual products. Sure. That 10,000 only incorporates for the moment, the INGLO. No, no. It incorporates INGLO + the products. If I was to simplify, there was a slide which had the five products, right? XUV.e8, XUV.e9, and the BE.05, BE.07, BE.09 on the BE brand. The figure that Rajesh spoke about covers all those products, which includes a platform that is shared by all five of them. It doesn't include nine. It doesn't include nine. Sorry. Yeah. It includes. 5 and 7. ... 05, 09, so 4, + 400. Right. My second question is that the first launch is in January 2023. That's the 400. Yes, XUV400. The slide talks about XUV Twin Peaks in December 2024. Will we see more products in those two years, or there's a gap of two years? There's a gap of two years. Thanks. In the EV space. Yeah, yeah. In the EV space. Yeah. Your question is on the- Just to be clear, in the EV space. In the EV space. Yeah. Yes. Thanks, Rajesh, for clarifying. Yeah, hi. I have couple of questions here. Yes. Yogesh. Hi. All right. One of the interesting differentiation in your strategy versus global OEMs is, and Rajesh you just mentioned battery will be more of a commodity. For OEMs who are investing in batteries along with partners, you think there will be a differentiation in terms of efficiency or in terms of cost? Because it seems like you will rely largely on partners, when it comes to battery sourcing, from a longer term perspective. I have a follow-up. Yeah. Right now, the way we are working our strategy is to leverage battery partnerships for batteries. We will do that in the first phase. The reason for that is not just cost, it's also the pace at which the technology curve will evolve, right? When I'm saying it's commoditized, if that was actually your words, that doesn't mean that technology is not gonna play out there. There is gonna be rapid evolution of technology in that area, in the whole area of battery and the efficiencies that it'll bring in, along with cost. Now, the point is, do we have that as an intrinsic core competence? I think that's where you are headed. No, we don't. We didn't have that in ICE engines 15 years back. We relied on partnership there. Many of our earlier engines, you know, the first engines I think we had available were from Peugeot. Peugeot. First were from Peugeot, right? The engine on which the Bolero got built was a Peugeot-derived engine, right? It's over the last 20 years that we've built capabilities. Today, the top global OEMs want to purchase engines from us, because the engines are, have evolved so much. There's a time in our evolution where we may do that. We don't think this is the time. Okay. Just a quick one. It's more tactical question. The car is lovely, but since you're using NMC, and we always thought NMC is reasonably more efficient than LFP, but it's only 5% more range versus Nexon EV Max. A little more torque obviously, but the range is just 5%. We used to think NMC is at least 20%, 30% more efficient than LFP. Any thoughts on that? It doesn't matter whether it is NMC or LFP, it only matters kilowatt hour. Yeah, per kilowatt hour. So- The range should have been more. All the kilowatt hour directly gives you energy, but you can derive it from two routes, either LFP route or an NMC route. These are two different cell chemistries, as you know, but the cell chemistry alone does not give you a higher range. The kilowatt hour is the one which gives you a range. Yeah. XUV400 should be much lighter and gives you more range, right? For the same kilowatt hour. It's a bigger vehicle as well, Yogesh. Uh, it's a- Okay. It's a 4.2-meter vehicle, so there are many other elements as well. Right. Right. So it's- Okay. It's weight to weight not comparable. It's a different class of vehicle. Class of vehicle. Okay. Fair enough. Got it. Thank you. Yeah. Yeah, thanks. So just two questions. First one, I think we should get you a mic so they can hear you online. Sriram, if you're getting any questions online, then just. After this I'll get. Yeah. Yeah. This is on the MEB partnership. Just want to understand, like, are you restricting yourself in the sense that all the critical components are coming in from the partnership? How do you get then the cost reduction as the scale advantage, scale moves up? Actually, it's the other way around, right? You get cost advantage. Because- -because of scale advantage. That's the value of a partnership and which is the reason why, you know, we are saying we're exploring doing more things with VW, because there is potential reverse scale advantage that can come back to them, as well. You know, these are all areas of further exploration. Because if we were to operate subscale without a strategic partnership, we will actually never get the economies of scale. Our best chance of getting economies of scale is by operating with somebody who sees us as a strategic partner, not just a, you know, supplier-customer relationship, where this relation can be symbiotic. Somebody who's invested a lot in going all the way down to the mines. You know, that's that whole combination allows us to do that. When we've done this, we've compared the cost with multiple other things. It's not that we've closed our eyes and jumped in and got in. We've got a negotiated rate, and that's been based on comparison with other options that we had. Got it. The other question was on like, I mean, from the specs that I see for XUV.e8 or XUV.e9, 4.77 meters, 4.95 meters. Are we sort of targeting a completely different segment? I mean, like, this doesn't look like it's essentially targeted anywhere, even what so-called premium segment in India. It's a 4.7 meter. Right. The number is not relating to meters, you know. The BE.09 does not mean 4.9. It's 4.7 only. Length. We are going basically 4.3%-4.7%. That's the spectrum in which we're playing. I mean, from the specs and the features, it looks like we're essentially probably going even above the XUV700, right? XUV700 is a product of today, right? We have to have specs three years later, which are, at that time, going to disrupt the market then. We are playing in our core segment. We are not gonna become a premium luxury player. Unless you think 700 is a luxury brand, which we can't fault you for feeling. Yeah, sure. Thank you. No, I was just basically trying to say it's a portfolio, right? You've got 5 products in there, and when you add 400, you have six. You want to span the length going from 4.2, 4.4.6, 4.7. While you look at XUV.e9, XUV.e9 is a fastback version, right? It's really a category differentiator. Maybe, Pratap, you can add a little bit. While you're adding a little bit of length, you're adding it for the proportion of design. Vijay, I think the question is less around the design. It's more around the features that we are giving. I think it was more on the length. It's more on the- He started off his question with length. Sorry. Yes. Yes. Saying that, are you going to where the premium category products play in that length? Yeah. To answer that question, Pratap will come in. It's a portfolio strategy in which we have one product which probably is a little longer compared to the others, but it's clearly not in the range of what you're talking about, which is the premium category. It's still 4.7. Correct. which is the 7, around the 700. Yeah. Yeah, 4.7, 4.8. 4.7. You know, very clearly, the BE.09 and, you know, the XUV.e9, they're sort of grand tourers. That means passengers in real first-class comfort, but also a lot of luggage. While they are sort of coupe design, the luggage capacity is huge, the volume. Just to clarify, BE.09 is the one out of these which is at a complete concept stage. As Velu explained, three of these are in execution, which is the XUV.e8, XUV.e9, and the B- O5. BE.05, BO7, right? BO7 is at design finalization stage. Yeah. BE.09, out of these five, is at a concept stage. Yeah. Got it. Got it. Which is the length you picked up? Yeah. From the slide. The question was that, are you essentially targeting even more premium than where you already are with the XUV? It seems to suggest that the price points will actually move much higher in terms of the product portfolio. We are two years away from pricing, so we can park there for the moment. Sure. The direction is to operate in the same space in which we are and not be a luxury brand. Got it. Thank you. Yeah. Can I ask a question? Uh- Before- Yeah. I think what we'll do is let's just take one or two online. Yeah. We'll come back to you. There's a question from Chirag, Edelweiss. Can you share more insights on choosing the battery technology, apart from the cost and heat conditions? Will the battery chemistry change in case of export markets? No, you have basically two battery chemistries, NMC and LFP. NMC adopted early on. Like the gasoline engines came early on into the automotive, NMC had the energy density advantage. Everybody who developed the battery pack, they developed with NMC. In the meantime, the NMC has nickel, manganese and cobalt, and they are rare metal components, and it's very difficult to get them. People started developing LFP. LFP does not have these components, and it is catching up the energy density curve. As you know, it is anything between 10%-15%, it can be cheaper depending on how the contracts are made with the suppliers of the lithium phosphate. Now it is catching up, and a lot of people are adopting LFP. LFP for hot countries is very good. NMC for cold countries is very good. In the battery pack, you have a heater and chiller to take care of either of the chemistry. The chemistry nowadays are depending on not on LFP or NMC, but on the supply situation and how much you have got in the mineral war mining, you know, plays. How much contracts you have made, how much supply conditions you have got an assurance to get the supply conditions. LFP has a little advantage on cost, NMC has a little advantage on energy density. That's the bottom line. Both are being preferred by, I mean, every EV company is migrating to LFP and trying to have equal portfolio. Yeah, I think Chirag had a question on whether that's gonna be different for export markets or not. There's no such point of view. No, there is no. It's universal. We are keeping the flexibility open for both markets. Okay. Thank you. There's one more question on what is the level of localization in XUV400? Level of localization in XUV. I think like everything is localized except the battery. Yeah, batteries. Battery is also there. Except the cell, everything. Yeah. Except the cell, everything is local. Except the motor. Motor. The motor. motor we import, yeah. Okay. Some other questions have Sorry, go on. Some other questions have already been answered, so we'll come back later. Yeah, you had a question. Yeah. Hi, this is Hitesh from CLSA. Hi. I just wanted to ask, you know, you've spent INR 600 crore on a platform converting ICE to electric, right? Which are the major areas, just want to understand where investments have gone. I mean, when you convert an ICE platform to EV, what all things, you know, you're working on in terms of investments? Just wanna get a sense on that. Let me just take that upfront and then maybe both of you can chip in. INR 600 crore includes the making it 4.2 meters. Correct. It's not all electric. That number you can't use only to evaluate what did we spend on the electrification. That was the first clarification I wanna put out because that includes the investment of the entire rear end of the product, which as you can see has new lamps and rear lamps and all of that. That's one part of the question. The second is around developing the whole battery pack, localizing that, developing the battery management system, because here in this case, we've done everything ourselves. The BMS, all of that is all owned by us. Now, Velu, you want to add on something or? Yeah. Rightly said. Floor changes, body shop, all of that. You have, like mHawk engine when you developed it 2.2-liter and then you adapt it to XUV500, you don't spend on engine, right? Well, first time you spend it. Likewise, this is the first time we developed the battery and then manufacturing investments, battery development investments, plus vehicle control unit, plus, like Rajesh said, battery control unit, plus chassis development, all of them, plus INR 4.2, all put together is this. Great. Thank you. Can I ask a question? Yeah, sure. Come. Just take the mic, please. Maybe few basic questions. This XUV 400, can you please talk through how much, sort of, you have tested this product, what are the key problems that you faced? How you sorted them? First question. Typical- Yeah. I don't think we'll answer the second part, which is how many problems did we face and how did we solve them. But we'll definitely tell you what we've tested for. Typically in every development, you will face problems that we used to face, and we fixed it. You have all electronic controllers, and therefore, it has to be tested. We have tested in Korea for all the about -15 degree to -20 degree temperature conditions, and you run at a high speed, you test the battery, you test the wiring harnesses, you test the BMS, the battery management system, the motor control unit, and then you have a charging system. The charging system has to be tested for varying voltage conditions at varying battery charging situation. For example, you have 20%, you have 40%, you have 80% and 60% at various battery energy conditions. You With varying voltages coming from AC or the DC, you charge, check everything under very different atmospheric conditions. Then you took it to the desert and you test it for high acceleration, drawing the maximum current possible from the battery, and then you see whether the battery is stable, motor is stable, conditions are stable. That we have tested it for more than 3- months in, or 4- months. We have tested about 5- vehicles high-speed track in Korea and in all the city conditions in India, in Bangalore, Chennai, in Delhi, we have tested it. That's more important for us. Very slow-moving traffic, but braking and moving traffic. Of course, all component-level testing that you will need to do. Sure. What's the realized, sort of range for these conditions? MIDC part, one that you see 456 km, any car that you tested, about 30% drop you will see it. Typically, you will see it 20%-25% to 30% range depending on the traffic condition. ARAI testing conditions are different, real world customer driving conditions are different, the weights are different, AC conditions are different, so you would see in that range. This will give 300, right? No. I mean, you need to test it in your test cycle to know what you are getting. See, every customer will, depending on their usage, is gonna get a different number, right? Got it, okay. That's the reason why everyone talks about one common number, which is a tested number on a multiple cycle. I- If you drive the vehicle only Mumbai-Pune Expressway, obviously you're not gonna get a 450 km range if you accelerate it in the fearless mode, then the battery is gonna run down differently. Every customer, based on how they use it, will get a different usage condition. I think what Velu said is roughly from the declared value to the real world is a gap of 20%-30%. We're gonna use now that the product is out, we will run it more and get greater confirmation on what the actual different customer usage ranges can be. Sure. Last question. You talked about a million number over there, but can you talk through like, you know, 2023, what kind of production capacity you have for XUV400? What kind of numbers you can produce on a monthly basis? 2024, 2025, 2026, 2027, how do you get to that 1 million? If you can just talk through the production capacity. I'm not talking about sales, I'm talking about just your production capacity. Let's start with XUV400. We've you know, we got asked this question by media as well, naturally, on eighth and ninth. We need to do some calibration around the demand side, and that's why, you know, one question everybody had is why have we revealed so early if you're only gonna start bookings in January. One of the reasons to do that is to get a better calibration of what demand will be and what is the supply lockup. The key function here on capacities is linked to availability of the battery, the cells, right? I mean, that's the key, the primary constraint that we have to lock in. As all of you know, that's a global constraint at the moment. Like, the semiconductor constraint, there is a constraint on availability of cells. Everybody's clamoring for, you know, battery cell related availability. That is something we are working through, and we will have a better clarity on that by January/February to put out numbers. Like we have said, Vijay said today, the size of the opportunity is big. It's really a question of seeing at what pace adoption happens, and hence what is the readiness we should have by way of volume. So that's on the XUV400 piece. Now, we'll put out a number more as we go across over the next two, three months. As you understand, it is gonna be a function of price as well. We have not rushed into opening booking because we want to make sure we understand the right price here, and that's why we will use the October, November, what Vijay called the customer fairs and the test drive, to start getting a feedback on where customer value is lying. You know, this is a reason where in ICE, we know the customer very intuitively. Here this is new segment for everybody, new segment for customer, new segment for us, and we have to give ourselves time to learn and, you know, adjust our approach. That's what we're gonna use the next three months for. On the rest of the capacity, you know, build up, I just want to clarify one thing different than what Velu mentioned on his slide. The 1 million number is what we had put out in our press release with Volkswagen. That includes the possibility of using their cells in other products as well beyond the SUVs. The two don't necessarily match. The number that we put out by way of what we want to sell of EVs in the year, SUV EVs in the year 2027, is that if EV penetration of our total SUV sales is 30% in 2027, that will translate to 200,000 vehicles per year. The range between the lower end and upper end can be 20% penetration to 30% penetration. In a way, the upside scenario for us in 2027 is 200,000 EVs, in the SUV space. The potential to use VW, S-cells and batteries can go beyond SUVs. Sriram, I... If there are no other- Suggest. Yeah, yeah. Velu is also clarifying that's of course the life cycle, but even if you take the life cycle, it will include a larger mix. Thank you. Maybe the last question from those who are attending through the net. Who has designed the cell and the battery system? What are you using from MEB in XUV400? What is the contribution of AVL, Bluesense and Valeo? There's nothing from MEB in XUV400. Who has designed the INGLO platform? It's Battery. No, No, but the cell and battery system. Cell and battery system. For XUV400. Oh, for the XUV400. Velu, you wanna answer that? The role of Bluesense. As I told, the AVL designed the battery. We took the cell from the Korean cell supplier we declared during the launch. You integrate the cell into the battery pack, the module to battery pack. That was done by AVL and in-house and it is being manufactured in Chakan plant. The other question is? What is the contribution of those three vendors you have mentioned, three partners you have mentioned? Bluesend is the company that we used to integrate the motor control unit, vehicle control unit. It is a master control unit. Then you have a charging control unit, and you have battery control unit. You have a battery, it has a control unit, BMS. You have a charger, it has a control unit, charging control unit. You have a motor, you have a motor control unit. The driver demand has to be converted into these three people. That's called VCU, vehicle control unit. This vehicle control unit has to talk to all of these guys, and that was the integration of these control units were done by Bluesend and, Valeo gives the motor. Motor control unit comes from that. Sriram, that question was for 400, right? Yeah, that. Yeah. Could you please talk about what are we doing on the charging infrastructure? Because that's something we will need to think about now, right? Is there, you know, the existing network, can it be shared, whatever competitors are developing? Is there some kind of partnership? Yeah. What about apartment complexes in cities like Mumbai? Yeah. Yeah, we're actually in the final stages of closing three MOUs. We'll announce them soon. The three areas of charging infra that we need to focus on, one is private charging, which is either in your home or in your office, where in your home or housing society, you know, people are setting up charging, and we'll enable that to happen. The second is fast charging at our dealerships. Every dealership will have fast charging. The third is leveraging existing charging infra, which is also, you know, a couple of tie-ups that we will be doing with the people who are in that space. The BlueSense app will show any customer the closest charging station, and our endeavor is to bring that down to the bare minimum. There's a lot happening on charging infra, and we'll announce details well before we come to SOP. You wanna add something? I think we should clarify that we are not investing in charging. We are not We're not going to invest in charging. The point that we want to make is. Yeah. As a strategy, it'll be all through collaborations. We will not invest in charging. Okay. Thank you. Okay. Shreya? Okay. Thank you all for being here, and we hope you found it insightful and useful. If there are any follow-up questions, we'll be happy to take them separately. Thank you. Thank you. Thank you.