Mahindra is looking to strengthen its play in the core segments of SUVs and electric vehicles

Mahindra & Mahindra plans to stick to its strategy of offering high-quality and differentiated vehicles, including internal combustion SUVs and electric vehicles, to further strengthen its presence in the domestic passenger car segment, a top company executive said. The Mumbai-based automaker has no immediate plans to introduce CNG and other alternative fuel technologies into its product range as it wants to stick to its core brand identity and serve a customer base looking for differentiated products.

“Our focus has been on ICE and electric and we are growing quite a bit in these areas. In our personal vehicle portfolio, the customers want to have differentiated products; they do not want to be in the mass market,” Mahindra & Mahindra President – Automotive Business R Velusamy told PTI in an interaction.

He noted that the company remains heavily focused on the SUV segments, with plans to enter multiple models over the next four years.However, the automaker has no immediate plans to target the multi-purpose vehicle (MPV) segment, he added.

Velusamy noted that the automaker is focused on maintaining its competitive edge in the domestic passenger vehicle segment through various initiatives such as operational efficiency and technological advancements. He noted that the SUV segment is still growing and the company plans to introduce more models between now and 2029. In the electric vehicle segment, the company plans to sell around 7,000 electric vehicles by the end of this fiscal.

The company aims for electric range to account for approximately 25 percent of its total volume by 2028.

Mahindra has already sold over 30,000 EVs (BE 6 and XEV 9) in the last seven months, generating a revenue of around Rs 8,000 crore.