M&M XUV700 price cut: No link with UP's policy, move was part of plans announced in Feb, Mahindra says

Mahindra & Mahindra clarified that its recent XUV700 price cut is not linked to Uttar Pradesh's EV policy but is part of a business strategy to lower average prices, outlined in a February analyst meeting. Shares fell as much as 7% on Wednesday. The price cuts stem from material cost savings and strategic planning.