Mahindra to launch 16 new models including SUVs and EVs in India By 2030

Mahindra and Mahindra has announced that the company will introduce as many as 16 new models in the India market in the duration of the next 6 years.Out of the 16 vehicles, 9 of them will be new internal combustion SUVs and the other 7 will be new electric SUVs. The new EVs is due to arrive in Q4 FY2025, likely in between Jan-March 2025.

Mahindra made the announcement during its FY2024 financial results press conference. The company stated that it is planning to launch 9 new SUVs including 3 facelifts and 6 all-new models, and up to 7 new electric SUVs in the market by 2030. Among the 9 combustion engine models, we will get to see the updated version of recently debuted Mahindra XUV 3XO that received over 50,000 bookings received within an hour of order books opening and two other facelifted version cars.

The company has stated that it will be injecting a notable investment of Rs 27,000 crore into its automotive business over the next three financial years. This significant investment boost will help the company to manufacture both passenger vehicles and commercial vehicles. The company might also increase it’s production capacity.The company plans to develop an EV production capacity of 10,000 units per month by the end of the current financial year.

The new electric four-wheeler company of the Mahindra Group, Mahindra Electric Automobile Limited (MEAL) will be getting  an investment of Rs 12,000 crore. MEAL is going to be the future branding for its upcoming range of Born Electric SUVs ,whose first model will make its appearance in the market by  the last quarter of FY2025 (January to March 2025).

The company executive has revealed that the company will also be focusing on making a very aggressive ICE portfolio over the next 10 years.

The company however did not rule out shifting focus to EVs should demand patterns change. The company might chnage its focus to EV market if there was any substantial change in demand over the next three years.

Mahindra will be making an investment of Rs 8,500 crores into the internal combustion models.

Mahindra plans to launch 9 new SUVs by 2030 

The carmaker plans to introduce 9 new SUVs( 3 facelifts and 6 all-new models) in India by 2030. The upcoming SUVs coming include XUV 3XO facelift and new Thar 5-Door, which has remained in the rumors for quite some time now along with facelifts of the Scorpio-N and XUV700. The Thar 5-Door will arrive later this year.

The company said it also plans to invest Rs 4,000 crore over the next three years into its light commercial vehicle portfolio. Mahindra will be introducing seven new models including two EVs.

Mahindra reported a marked growth of Rs 1,908 with a consolidated profit after tax of Rs 4,714 crore for its Auto business. Mahindra Auto business reported a total revenue of Rs 76,156 crore with addition of over 5,000 crore over last financial year.

Meanwhile, the Mahindra Group reported a cumulative revenue of Rs 1,39,078 crore with consolidated profit after tax of Rs 11,269 crore.

Also Read: Mahindra & Mahindra to invest Rs 12,000 crore in its EV unit

 
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