Mahindra & Mahindra hosted a shareholder meeting recently where they announced future plans for the auto arm. As per the announcement, Mahindra will launch 23 new vehicles by the end of 2030. These include 16 SUVs/BEVs and 7 commercial vehicles.
Mahindra’s Plan for the Future
The 23 vehicles to be launched include 9 internal combustion engine powered SUVs, 7 battery electric vehicles and 7 light commercial vehicles. Out of the 9 ICE SUVs, three would be mid-cycle updates and six would be new SUVs. The three vehicles to get the mid-cycle updates will be the XUV 3XO, XUV 700 and the Thar. The 7 BEVs would include vehicles based on the already showcased XUV.e8, XUV.e9, BE.05, BE.07 and BE.RALL-E. The other BEVs will be electric vehicles derived from their ICE counterparts. The 7 LCVs include five ICE and two EV variants.
Production Plan
Mahindra is also planing to ramp up production to meet the customer demand. Last year, Mahindra clocked a monthly production capacity of 39,000 units. This was double of Mahindra’s previous year average of 19,000 units per month. By the end of this year, Mahindra plans to average 49,000 units per month. The following year, their target is to increase the production of the Thar 5-door, XUV 3XO and XUV 700 by 5,000 units a month and EV production by 10,000 units a month totalling 64,000 units a month. By the end of FY26, this number is expected to go up to 79,000 units per month.
To make this happen, Mahindra is going to invest a total of 27,000 crores between FY25 and FY27. Out of the 27,000 crores, a big chunk of 14,000 crores will be diverted to electric vehicles and their development. Another chunk of 8,500 crores is going towards ICE SUVs and 4,000 crores towards commercial vehicles. The rest is budgeted for sustenance and other sub-investments.
Mahindra’s plans reveal that they will be focusing on EVs for the future but will also not lose sight on ICE vehicles.
Also Read: Mahindra XUV 3XO bookings open today, priced at INR 7.49 lakh