Mahindra aims 2 lakh electric vehicles every year by 2029

Mahindra and Mahindra is all set to step up its electric vehicle game with focus on increasing its production and targeting global markets with its products. The carmaker revealed its EV game plan on 77th Independence Day (August 15) at an even held in South Africa. Mahindra said that it will soon convert most of its models, including the likes of Bolero, Thar and other SUVs, into electric in coming days. The carmaker also wants to expand its footprint in UK and European countries with its EVs. To fulfil its target, Mahindra aims to produce 2 lakh electric vehicles by 2029.

Mahindra and Mahindra unveiled the Vision Thar.e, the electric concept version of the iconic off-road Thar SUV, on Tuesday. The Thar.e, which is likely to go into production in a few years, will be part of Mahindra's Born Electric vehicle lineup in the future. The carmaker currently offers the XUV400 as its sole fully-electric vehicle in India. However, Mahindra will start launching multiple EVs in coming days to expand its lineup.

Veejay Nakra, President of Mahindra's automotive division, said the carmaker's upcoming new plant in Chakan will be key to its EV game plan. "We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029," Nakra was quoted by news agency PTI. Mahindra expects its electric vehicles to contribute about 30 per cent of its overall sales by 2030.

Watch: Mahindra Thar.e Concept EV: The future of off-road SUVs?

On Tuesday, Mahindra revealed that it is planning to convert its flagship models like Thar, XUV, Scorpio and Bolero to have fully-electric versions too. The electric versions of the Bolero. Thar, Scorpio and XUV are branded as Bolero.e, Thar.e, Scorpio.e and XUV.e, respectively. In 2022, Mahindra had showcased a number of concept EVs at an event in UK. The first of these electric vehicles is expected to launch by next year.

Mahindra will use the INGLO EV platform as the base for all its upcoming electric vehicles. The carmaker had said it plans to introduce five electric SUVs under two brands - the XUV and the Born Electric. On Tuesday, Mahindra also revealed the new brand identity for its Born Electric range of vehicles.