Mahindra and Mahindra Ltd has recalled over 1 lakh units of its popular XUV700 SUVs (Sports Utility Vehicle) to inspect a potential risk of abrasion cut in the wiring loom.
Mahindra will inspect wiring loom routing in the engine bay of 1,08,306 units of XUV700 manufactured between June 8, 2021 and June 28, 2023 for potential risk of abrasion cut of wiring loom, the carmaker says in a stock exchange filing.
The SUV manufacturer has also recalled 3,560 units of XUV400 electric vehicles manufactured between February 16, 2023, and June 5, 2023. These will be "inspected for ineffective spring return action of the brake potentiometer," the carmaker says.
The "proactive inspection" of select XUV products is in line with the company’s customer-centric approach, the carmaker says.
"The inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company. In an endeavour to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity. This action is also in compliance with voluntary code on vehicle recall," says Mahindra & Mahindra.
The recall comes days after Mahindra Electric Automobiles Ltd, a subsidiary of Mahindra & Mahindra, unveiled Vision Thar.e in Cape Town, South Africa. The automaker claims the Thar.e is more than an electric evolution of its popular off-roader Thar. Mahindra also unveiled its global pickup concept for international markets. The pickup vehicle will come equipped with Level-2 ADAS, Trailer Sway Mitigation, All-Around Airbag Protection, Drowsy Driver Detection, and 5G Connectivity, among others.
Mahindra Tractors, the group’s tractor unit, also launched a new range of tractors – the Mahindra OJA. OJA is Mahindra’s most ambitious global lightweight tractor platform.
Singapore's sovereign wealth fund Temasek will invest ₹1,200 crore in Mahindra Electric Automobile Ltd to acquire up to 2.97% stake in the EV unit. With this investment, Mahindra's EV subsidiary's valuation has jumped by 15% from ₹70,070 crore to up to ₹80,580 crore. Temasek has signed a binding agreement to invest in Compulsorily Convertible Preference Shares (CCPS) of Mahindra Electric Automobile at a valuation of up to ₹80,580 crore, giving the sovereign fund a 1.49% to 2.97% stake.
