Mahindra & Mahindra To Introduce 7 EVs By 2030
M&M currently sells the XUV400 in the EV segment and aims to expand its offerings by adopting more cost-effective lithium iron phosphate (LFP) technology over the more expensive nickel manganese cobalt (NMC) technology favoured in Europe.
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Mahindra & Mahindra (M&M) is planning to roll out seven battery electric vehicles (BEVs) by 2030, starting with new models in 2025.
According to the company, M&M aims to increase its monthly production capacity by 15,000 units, with 10,000 of those being EVs. This will raise its total monthly capacity to 64,000 units.
Addressing a press meet, Anish Shah, Managing Director & CEO, M&M said, “There are certain markets globally that are seeing some noise due to a lack of charging infrastructure but they have about 20 per cent EV penetration. India is at 1.5 per cent EV penetration today, and we have a long way to go. For India, EVs have a direct impact on reduction in fuel cost and emissions.”
He emphasised the importance of desirable products in accelerating the transition to electrification in the Indian market and said, “That is something that hasn’t quite come into the Indian market yet. As that comes in, it will start creating the demand and we will start seeing a greater pull for EVs.”
Rajesh Jejurikar, Executive Director & CEO for Auto and Farm Sector at M&M, expressed his optimism about the company’s EV plans.
“We are optimistic about our EV plans and are ‘on track’ with our renewed EV strategy of launching a series of models starting 2025,” Jejurikar stated.
Mahindra & Mahindra (M&M) is planning to roll out seven battery electric vehicles (BEVs) by 2030, starting with new models in 2025.
According to the company, M&M aims to increase its monthly production capacity by 15,000 units, with 10,000 of those being EVs. This will raise its total monthly capacity to 64,000 units.
Addressing a press meet, Anish Shah, Managing Director & CEO, M&M said, “There are certain markets globally that are seeing some noise due to a lack of charging infrastructure but they have about 20 per cent EV penetration. India is at 1.5 per cent EV penetration today, and we have a long way to go. For India, EVs have a direct impact on reduction in fuel cost and emissions.”
He emphasised the importance of desirable products in accelerating the transition to electrification in the Indian market and said, “That is something that hasn’t quite come into the Indian market yet. As that comes in, it will start creating the demand and we will start seeing a greater pull for EVs.”
Rajesh Jejurikar, Executive Director & CEO for Auto and Farm Sector at M&M, expressed his optimism about the company’s EV plans.
“We are optimistic about our EV plans and are ‘on track’ with our renewed EV strategy of launching a series of models starting 2025,” Jejurikar stated.
