Mahindra has shared a fresh plan for the next few years. The company is getting ready for a big expansion with new SUVs, higher production and a strong push in electric vehicles. The latest update replaces the older roadmap and adds more models to the lineup. The earlier roadmap was part of the Aspiration 2030 plan, while the new update now comes under the Aspiration 2031 plan, which started from April 2026.
As per the new plan, Mahindra will bring a total of 16 SUVs by 2031.
- 10 ICE SUVs
- 6 electric SUVs
It has increased from the earlier roadmap. Under the previous plan, 4 ICE SUVs and 3 EVs were still pending before this update.
What has already launched
Before this update, Mahindra had already started working on its earlier targets. By the end of FY2026, several models were already on sale.
- XUV 3XO
- Thar Roxx
- XUV 7XO
- New Bolero
- Bolero Neo facelift
In electric models, the company introduced:
- BE6
- BE6 special version
- XEV 9e
- XEV 9s
This means a large part of the earlier plan is already done.
What is new in the updated plan
The new roadmap brings in more SUVs than before. Mahindra has added six more ICE SUVs and three additional electric models to its future plans. With these additions, the total now stands at 10 ICE SUVs and 6 EVs that will be introduced by 2031.
Most of the upcoming ICE models will be completely new products. Only one is expected to be an update of an existing SUV.
Upcoming models to watch
Some future models are already known from earlier concept previews and test sightings.
- Scorpio N facelift with more features like panoramic sunroof and ventilated seats
- Global Pik Up based on Scorpio N platform
- Vision S based SUV with boxy design
- Vision T which could join the Thar lineup
- Vision SXT for outdoor focused use
- Vision X which will be a compact SUV
These models are expected to come in both ICE and EV versions depending on the segment.
New platforms and EV plans
Mahindra is also working on new platforms for future cars.
- NU IQ platform for ICE and EV models
- INGLO platform mainly for electric SUVs
The company will launch new EVs starting from 2027. EVs based on both INGLO and NU IQ platforms will be part of this rollout.
Two future electric models are already expected:
- BE07
- BE09
These will sit above current EV models and come with multiple battery options.
Production increase plan
Mahindra is also increasing how many cars it can build every month. By the end of FY2026, its total production stood at 64,500 units per month, out of which 56,500 were ICE vehicles and around 8,000 were EVs. The company now plans to increase this step by step. ICE vehicle production alone is expected to reach around 60,000 units per month in the early part of FY2027, while EV numbers remain steady in this phase.
It is targeting about 68,000 units per month in the early part of FY2027, and this will go up further to 82,000 units per month by the end of FY2027. This rise will come mainly from improving efficiency at existing plants. The added capacity will also support around 10,000 new ICE SUVs and 4,000 new EVs, largely for upcoming models based on the NU IQ platform, which should help bring down waiting periods.
Mahindra is also working towards a bigger long-term target of reaching around 10 lakh units of annual production by 2030.
New plant in Nagpur
Mahindra is also building a large new factory in Nagpur.
- Investment of around Rs 15,000 crore
- Work planned over 10 years
- Production start expected from 2028
- This plant will have capacity for:
- 5 lakh passenger vehicles per year
- 1 lakh tractors per year
It will support both India and export markets, along with production of ICE models, EVs and future platforms.
EV market position
Mahindra is already doing well in the electric SUV space.
- Strong position in EV revenue share
- Around 40 percent share in one recent quarter
- Over 50,000 EV units sold in FY2026
The company is also among the top players in EV sales volume and holds a leading position in EV revenue share. New EV launches will further grow this number.