Mahindra & Mahindra is gearing up for a major electric push this fiscal, with the company targeting monthly EV sales of around 7,000 units by year-end. The carmaker currently moves 4,000–5,000 electric vehicles each month, but expects that number to rise as it expands its portfolio and production capacity.
The big boost comes with the launch of the new seven-seat XEV 9S, unveiled on Thursday. With this addition, Mahindra wants electric models to contribute roughly 25% of its total sales by 2027–28. Executive Director and CEO for Auto & Farm sectors Rajesh Jejurikar said the company is scaling manufacturing aggressively to meet demand.
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"We are moving to an operating
production capacity of electric vehicles to 8,000 units per month by fiscal end, out of which we hope to sell 7,000 units a month," Jejurikar told reporters. Mahindra builds its born-electric models at its Chakan plant, where production has been steadily expanding.
Over the past seven months alone, Mahindra has already sold more than 30,000 BE 6 and XEV 9 units, generating around Rs 8,000 crore in revenue. To support its growing EV fleet on the road, the company is also planning a dedicated charging network, targeting around 1,000 charging points by 2027, with emphasis on high-traffic locations.
On the export front, Jejurikar said Mahindra will move carefully. "We have an overall path to exports for the electric SUV portfolio, but we will do it in a calibrated manner. We have said right-hand markets first and then, depending on the response, we will look at the left-hand markets," he noted, adding that it’s "not something we will rush into."
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The company is also preparing for future battery disposal needs. Jejurikar said Mahindra is “very seriously looking at” end-of-life battery solutions, noting that its electric three-wheeler business will see older battery packs come through earlier than the SUVs. A dedicated team is already working on recycling options.
Mahindra is also mitigating supply-chain risks by building multiple fallback measures into its EV business. All trims of the XEV 9S qualify for the government’s production-linked incentive (PLI) scheme, Jejurikar said, explaining that the certification process requires proof of value addition across all supplier tiers.
(With inputs from PTI)
