Mahindra & Mahindra clarifies XUV700 price cut not linked to Uttar Pradesh's EV policy, part of pre-decided strategy.

Mahindra & Mahindra has clarified that the recent price cut of XUV700 variants is not linked to Uttar Pradesh's electric vehicle/hybrid vehicle policy. The automaker stated that this move was part of its pre-decided business strategy to lower the average price point, as detailed in a February 2024 analyst meeting. The price cut is not expected to have a significant impact on the company's financials.