Mahindra's Premium Strategy: Dominating with SUVs and Electric Vehicles

Mahindra & Mahindra is intensifying its focus on premium SUVs and electric vehicles in India. The company plans new models and aims for electric vehicles to make up 25% of sales by 2028. Despite growth in EVs, Mahindra will not venture into CNG technology or the MPV segment for now.

Mahindra & Mahindra is doubling down on its premium strategy by concentrating on internal combustion engine-powered SUVs and electric vehicles in the Indian market. The Mumbai-based automotive giant is resisting the shift toward CNG and alternate fuel technologies, sticking to its core brand identity and focusing on differentiated products for discerning customers.

According to R Velusamy, President of Mahindra & Mahindra's Automotive Business, the company aims to enhance its SUV line-up with multiple new models over the next four years. While the SUV market is their main stay, Mahindra has no current plans to enter the multi-purpose vehicle (MPV) segment.

The company's electric vehicle segment is seeing promising growth, with plans to sell around 7,000 units by the end of the fiscal year. By 2028, Mahindra expects electric vehicles to constitute 25% of its total sales volumes. Over the past seven months alone, the sale of over 30,000 EV units has generated approximately Rs 8,000 crore in revenue.