Mahindra & Mahindra has once again revealed its ambitious strategy in the country’s automobile industry. The company has clarified that it will continue to focus on its core SUV and electric vehicle (EV) segments and wants to strengthen its hold in the domestic passenger vehicle market by introducing premium, differentiated vehicles. According to the Mumbai-based auto major, the company currently does not intend to include CNG and other alternative fuel technologies in its product range, in order to maintain its brand identity.
SUV segment commitment
Mahindra & Mahindra’s Automotive Business President R. Speaking to PTI, Velusamy said that our focus has been on ICE and electric vehicles and we are continuously growing in these areas. In our personal vehicle portfolio, customers want products that are different; They don’t want to be in the mass market. He also clarified that the company is not currently planning any plans in the Multi-Purpose Vehicle (MPV) segment.
electric vehicle target
The company’s commitment towards the SUV segment also remains strong. Velusamy said that Mahindra is planning to introduce many new SUV models in the next four years. Along with this, in the electric vehicle segment, the company has set a target of selling about 7000 EV units by the end of the financial year 2025-26.
successful EV sales
The company has sold more than 30,000 EV units through the BE6 and XEV 9 models in the last seven months, generating revenues of around Rs 8000 crore. Mahindra aims to have electric vehicles account for around 25% of its total sales by 2028.
market dominance
Auto experts believe that this strategy of Mahindra will not only help it strengthen its hold in the domestic market, but will also establish the company as a major player in the electric vehicle market. Velusamy said the company will try its best to remain competitive through operational efficiency and technological advancements.
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