Mahindra & Mahindra has planned extensively for electric vehicles (EV) in the next five years. The company has said that it plans to introduce 16 electric vehicles (EVs) in the SUV and light commercial vehicle (LCV) category by 2027
Mahindra Upcoming Electric Vehicles: Mahindra & Mahindra has planned extensively for electric vehicles (EV) in the next five years. The company has said that it plans to introduce 16 electric vehicles (EVs) in the SUV and light commercial vehicle (LCV) category by 2027.
Through this, the company wants to strengthen its leading position in the electric mobility segment of India. The company has set a target of 15-20 percent growth in its total revenue by 2025. The company has kept open the option of either bringing in private equity investors or demerging its EV business as a separate entity to accelerate its growth.
Mahindra & Mahindra (M&M) has already announced plans to invest Rs 3,000 crore in EVs. The company is also considering a new brand name for the electric SUV which it will introduce by 2027.
Rajesh Jejurikar, Executive Director, M&M said, “In the SUV segment, we are looking at introducing 13 new models by 2027, out of which eight will be electric. We expect electric vehicles to account for at least 20 percent of our total UV (utility vehicles) by 2027. The company may introduce four new electric SUVs between 2025-2027.
