Mahindra & Mahindra is dedicated to the utility vehicle (UV) market and intends to launch three electric UVs. The company is exploring alternative fuels and expects strong demand for electric UVs and SUVs.
Mahindra & Mahindra (M&M) is steadfast in its commitment to the utility vehicle (UV) segment, with plans to continue its presence in the passenger vehicle category through the introduction of electric vehicles (EVs), according to an official statement on Monday. The company is on track to surpass the 8 lakh sales mark in the current fiscal year, up from 6.9 lakh units in the previous fiscal year, as indicated by sales trends from April to February.
Baneswar Banerjee, M&M’s national sales head, announced during the launch of a dealership by the Landmark group that the company has sold 7.56 lakh units across passenger, commercial, and three-wheeler segments in the last 11 months. He expects to cross the eight lakh mark by March 2024.
M&M plans to introduce three pure electric utility vehicles, even as the EV charging infrastructure continues to develop in the country. The company currently offers the XUV 400 in the EV segment, with the new models set to be built on a dedicated EV platform, referred to as “born EV,” while maintaining their focus on UVs and SUVs.
Banerjee emphasized that M&M will remain focused on the utility vehicle segment in the passenger car market while aggressively pursuing pure EV models. The eight lakh unit sales milestone for this fiscal year includes all passenger vehicles, commercial vehicles, and three-wheelers.
The company’s SUV sales saw a 40% year-on-year increase in February, reaching 42,401 units, with expectations of continued momentum in March. While Banerjee did not specify a timeline for the launch of the new EV platform, he hinted that at least one model is expected to debut early in the next fiscal year.
He anticipates strong demand for electric UVs and SUVs as the network of EV charging stations expands. M&M is also exploring alternative fuels, including hydrogen and liquefied natural gas (LNG), as part of its commitment to sustainable mobility.
Banerjee expressed high expectations for the company’s EV lineup in terms of product offerings and investments, signalling a robust future for M&M in the electric vehicle market.
