Mahindra wants 1 in 5 of its cars to be electric by 2027
Mahindra & Mahindra just set a big projection: they expect more than 20% of their vehicles to be electric by 2027.
They announced this while launching the XEV 9S, Mahindra's first seven-seater electric SUV.
Nalinikanth Gollagunta, CEO, automotive division, M&M, and executive director, Mahindra Electric Automobile, said new models like this are key for getting more people into EVs and keeping Mahindra growing.
How they plan to get there
Right now, Mahindra's EVs make up about 7-8% of their sales, but they're aiming for over 20% in the next two years.
The new XEV 9S should help them ramp up production to about 8,000 units a month.
For exports, they're starting with Nepal—where EVs are already popular—and have plans to expand into South Africa, Australia, and the UK.
Unlike some competitors exploring hybrid tech, Mahindra is all-in on fully electric vehicles, backed by a hefty ₹3,050 crore investment from BII and Temasek.