Mahindra & Mahindra (M&M), a prominent player in the Indian automotive industry, is gearing up to achieve a peak production rate of 2 lakh electric vehicles (EVs) per year at its upcoming Chakan plant in Maharashtra. Veejay Nakra, President of the Automotive Sector at M&M, revealed this ambitious plan, stating that the target production range is expected to be realized between 2027 and 2029.
The company is setting its sights on a sustainable future, estimating that EVs will account for a substantial 30% of its total production volumes by the year 2030.
This significant move comes following the Maharashtra government’s approval in January for M&M to establish a state-of-the-art EV plant in Chakan, situated near Pune. The investment for this venture, valued at Rs 10,000 crore, will be executed over a span of 7 to 8 years. The plant’s primary focus will be on the manufacturing, development, and production of the forthcoming Born Electric (BE) models.
Nakra elaborated on the production strategy, stating, “We are looking at producing around 2 lakh units (at the Chakan plant) between 2027 and 2029.” He also highlighted that the first product from the BE range is set to hit the market by the end of the next year, and the Chakan plant’s production operations are anticipated to commence 4 to 5 months before that launch.
Currently, M&M’s electric vehicle lineup features the XUV400 model, which is produced at the Nashik plant in Maharashtra. In the realm of electric three-wheelers, M&M is a dominant player, holding over 70% market share.
The automaker’s vision for the future revolves around its INGLO EV Platform, which will underpin five electric SUV models presented under two distinct brands—XUV and the all-new BE brand. The BE lineage will introduce novel electric models, while the legacy brands will be positioned under the XUV umbrella.
Nakra expressed the company’s anticipated market share from EVs in the coming years, stating, “About 30% of our portfolio would comprise electric vehicles between 2027 and 2030.” When queried about the prospect of separate showrooms for BE products in India, he indicated that the company is currently working on defining the customer journey and experience before finalizing such details.
M&M’s global aspirations extend beyond the Indian market. The company has plans to introduce its BE products in advanced markets such as Europe and the UK. Coupled with its existing SUV lineup and new pick-up truck offerings, M&M anticipates substantial growth in international sales. Presently, the company sells SUVs in various international markets including Australia, New Zealand, and South Africa.
With the unveiling of a new pick-up truck concept and the electric version of its popular SUV Thar, M&M is demonstrating its commitment to innovation and sustainability. The company also revealed a new visual identity for its upcoming BE vehicle range, signaling its forward-looking approach to the evolving automotive landscape.
