Mahindra in top gear for e-mobility, to launch 16 new EVs by 2027
Mahindra & Mahindra has revealed plans to strengthen its position in India's electric mobility space and will launch as many as 16 electric vehicles (EVs) by 2027. The announced EVs will be in both SUV and light commercial vehicle categories, the company said.
Mahindra informed that out of the newly announced electric vehicles there will be eight battery-powered SUVs. “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 per cent of the total UV (utility vehicles) volumes coming from electric vehicles," M&M Executive Director Rajesh Jejurikar told reporters in a virtual earnings conference.
The homegrown automaker will be coming up with four new e-SUVs during the period of 2025-27, while the light commercial vehicles (LCV) segment will also see eight EV launches by 2027. “So you can clearly see a strong focus on electric, some of these electrics will be completely new, the balance will be derived from existing products," Jejurikar added.
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The company has announced its intentions to invest ₹3,000 crore in EVs which reflects its seriousness towards the segment that it is yet to truly take off in India. The Thar maker will also introduce a new brand name specifically for its e-SUVs which will take place by 2027. Mahindra also affirmed that it is open for private investors for its EV business,“We are open to all options because electric is going to be major and therefore we are not losing any options."
Currently, Mahindra's electric portfolio majorly comprises a couple of light commercial vehicles and cars (e20 Plus and eVerito).
(With agency inputs)