Mahindra & Mahindra has revealed their plans to launch 16 electric vehicles by 2027, out of which eight will be electric SUVs and eight light commercial vehicles. The company will invest Rs 3,000 crore while staying open to private investors and partnerships
Indigenous automotive manufacturer has revealed plans to launch 16 new electric vehicles (EVs) in the next six years. This proposal is meant to brace the company’s current status in the Indian electric mobility segment.
The company plans to invest Rs 3,000 crore in electric vehicles while staying open to investments from across the world. This movement may lead M&M into a new brand for the upcoming electric SUVs.
In a virtual earnings conference, M&M Executive Director Rajesh Jejurikar told reporters, “We are looking at 13 new launches in SUVs by 2027, out of which eight will be electric. We have a strong focus on EVs in the upcoming six years, some of these EVs will be completely new, and the rest will be facelift from the existing fleet.”
M&M is aiming at a 10-times growth for its farm equipment business over the next six years. With its influence in utility vehicles as well as tractors, Mahindra Group is regarded as one the most reputed Indian industrial houses in India.
Under the leadership of Padma Bhushan awardee Anand Mahindra, the company has expanded into aerospace, agribusiness, construction equipment, defence, farm equipment, finance and insurance, information technology, finance and insurance.
