Mahindra targets 13% to 17% EV sales by 2027
Auto
Mahindra & Mahindra is setting its sights on making electric vehicles 13% to 17% of its total sales by 2027.
This push is all about meeting new, tougher fuel efficiency and emissions rules (CAFE III norms) coming in 2027.
Mahindra EV sales exceed 11%
Mahindra's EV sales have already grown from about 9.5% to more than 11% recently, and they are planning to ramp up even more with current models like the BE 6, XEV 9e, XEV 9S, and XUV 3XO EV.
CEO Rajesh Jejurikar said "The good thing about the capex is now it's in blocks. It connects the need for EV penetration with our portfolio," aiming for EVs to make up nearly one-fifth of sales in the next five years.