Mahindra And Mahindra To Launch 16 EVs By 2027

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The future of mobility is electric. Though research is being carried out to find alternate fuel types, so far EVs are in the lead. While some companies are taking things slow, others are pumping EVs into the market. Similarly, Mahindra & Mahindra has given a serious commitment by announcing its plan to release 16 new EVs in the SUV and the light commercial vehicle segment, by the year 2027.

Mahindra Electric Spark the new Logo

Official Statement

The company’s Executive Director, Rakesh Jejurikar in a virtual conference said, “In SUV, we are looking at 13 new launches by 2027 of which eight will be electric. We think by 2027 we’ll be ready for at least 20 percent of the total UV (utility vehicles) volumes coming from electric vehicles,”. He added that in the light commercial vehicles segment, seventeen new vehicles will be released, of which eight will be electric. M&M Managing Director and CEO Anish Shah said, “We are open to all options because electric is going to be major and therefore we are not losing any options.” when asked whether the company will seek private equity investors for the EV business or bring it under a separate brand name. From this statement, it is clear that Mahindra might come up with a separate brand name for its EVs.

Mahindra KUV100 electric spied rear

Future plans

The company is looking forward to a growth target of 15-20 percent by 2025 and expects 20 percent of its sales from the EV segment. Of the eight electric SUVs to be launched, four will be electric iterations, of the present ICE models available in the market. The company has also announced that it will invest ₹ 3,000 crores in electric vehicles out of the sum total of ₹ 13,500 crores over a period of three years FY2022-FY2024.

Mahindra eXUV300

Thus, it is safe to expect electric equivalents of the Bolero, XUV, Scorpio, and Thar to roam around on our streets. One can expect the eKUV100 and eXUV300 to be the initial offerings by Mahindra electric since they have already been showcased a while back. All in all, Mahindra looks set and determined on its path to expanding its EV portfolio, and it is only a matter of time before the others follow.

 

 

 

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