Anand Mahindra: We won't copy Tesla

Anand Mahindra insists he does not want to copy Tesla and will continue to apply different strategies for the future of electric vehicles. The head of the Mumbai-based automotive giant told shareholders that Mahindra & Mahindra has a range of electric cars from small cars to mobility platforms such as Ola, Uber and Pininfarina brands.

Tinuku Anand Mahindra will not copy Tesla

The 71st annual general meeting Mahindra & Mahindra said was not interested in becoming Tesla from India. Companies prefer to create different products and services. Mahindra says it has its own strategy of fleet car-sharing business up to premium car.

"Tesla is a pioneer, Mahindra has to develop its own niche, there is no use for copying. You have to be different. We spend a lot of money on electric cars, we will be ahead of the game," Mahindra said.

Mahindra & Mahindra has established Mahindra Electric which produces and develops electric cars. The company also formed Mahindra Racing which ranks 3rd in Formula E competition in global brand competition such as Jaguar, Renault and Audi.

"We are third of 10 constructors, after Renault and Audi. We get very large technology feedback from there. Formula E is a laboratory in this case, that's why we succeed at the high end of electric vehicles," Mahindra said.

"For electric vehicles to take off have to compete against gasoline and I'm sure considering the cost of batteries is going down. If you as an industrialist depend on government subsidies, then you can never survive," Mahindra said.

"As you know we have acquired Pininfarina, we intend to be in a higher EV space, so we will be back with that product brand that is suitable for the European market," Mahindra said.