Backed by deep investments in products, people and infrastructure, the company is building a future-proof portfolio designed to compete with confidence on the global stage.

Author: T. Mulally

Mahindra is undergoing a major transformation from its traditional mass market image to a brand that can play comfortably in value-driven and premium segments. The shift is largely driven by its electric vehicle strategy, where products like the XUV9 launched in Bengaluru on November 27 showcase a new and aspirational design and technology direction, even as popular brands like Bolero continue to serve core rural and semi-urban customers.

Speaking at the roundtable, Rajesh Jejurikar, Executive Director and CEO of Mahindra & Mahindra Ltd, said that at the core of this evolution is the company’s belief in providing the right value proposition for each segment. Its electric vehicle journey has not only reshaped its product vision, but also strengthened its internal capabilities – growing its electric vehicle team from 1,000 people to more than 6,000 people in just three years, largely through internal training. He said this rapid expansion reflects both the company’s commitment and the depth of Indian engineering talent that is driving the development of its future-proof platform.

While the EV market is grappling with issues like range anxiety, Mahindra noted that real-world customer behavior tells a different story. Nearly a third of its 30,000 electric vehicle users drive 400 kilometers a day, and its models often have an actual range of more than 500 kilometers. Even the seven-seater XUV9 retains this range – a configuration that the OEM believes is in line with Indian preferences for flexibility and ‘just in case’ seating.

Talking about charging infrastructure, Mr. Nalinikanth Gollagunta, CEO, Automotive Division of Mahindra Ltd. and Executive Director, Mahindra Electric Vehicles Ltd., said that the company has set up two 180 kW fast charging stations with an average charging time of 18 minutes. By 2027, the company plans to deploy 1,000 chargers on 65 busy highways, complete with dining and rest facilities. The stations will be open to all electric vehicles and have real-time status integrated into Mahindra’s app to address the visibility gap that has frustrated many urban users.

Mahindra’s approach to product development is increasingly insights-driven. Jejurikar said Batman Special Edition, born out of social media ears and launched in just three months, has been a success and the company is redoubling its efforts to connect consumer sentiment with rapid product innovation. He also emphasized that the obsolescence of electric vehicles is often exaggerated: while software develops quickly, core hardware such as batteries and motors change slowly, making OTA updates and strong processing power even more important.

On the operational front, Mahindra is gearing up for the entire life cycle of electric vehicle ownership. Backed by its experience with three-wheelers, the company is actively establishing a battery recycling process and continues to offer India’s first battery lifetime warranty.

With electric vehicles already accounting for 8.7% of its SUV sales (Q2FY26), higher than the industry average of 5.5%, Mahindra expects this to rise to 20-25% by 2027 or 2028. Its electric SUV manufacturing capacity is expected to increase to 8,000 units per month by March 2026. Meanwhile, combustion engine vehicles with both powertrains will remain a key pillar, based on the coexistence of customer preferences and regulatory dynamics, he said.

Mahindra is also protecting its supply chain through proprietary de-risking strategies for batteries and rare earth materials, ensuring stable production amid global uncertainty. Its pricing philosophy remains transparent – growth will only be driven by real input cost rises rather than profit expansion, especially as the company acknowledges the government’s GST support for electric vehicles.

To support growth, Mahindra is expanding its sales and service network at a rate of 15-20% annually, Mr. Gollagunta said. While integrated showrooms for internal combustion and electric vehicles remain the preferred method of keeping customers within the brand, dedicated pure electric vehicle stores may be piloted in selected markets. In essence, Mahindra is not just preparing for an electric future, but building it. Mr. Jejurikar added that with significant investments in products, people, infrastructure and processes, the company is building a portfolio designed to compete confidently on the global stage, driven by innovation, agility and deep understanding of Indian customers.