Mahindra & Mahindra Plans Double Production Capacity for SUVs and EVs Amid Surging Demand

6 Dec 2023 , 12:52 PM

Mahindra & Mahindra plans to double production capacity for SUVs, pick-up trucks, and electric three-wheelers in the next three-four years. Expansion aims to accommodate upcoming fossil fuel and battery-operated models in both personal and commercial segments.

Robust demand across segments is a key driver for the expansion, with a formal announcement expected next year. CEO Nalinikanth Gollagunta confirms capacity ramp-up to 49,000 SUVs per month by March 2024.

Total installed capacity for automotive business, including pick-up trucks, projected to reach 1.1 to 1.2 million units per annum by FY28/29.

Investment of Rs 3,500 crore to Rs 5,000 crore expected for enhancing SUV capacity, with plans to double production to 85,000-90,000 units a month. Expansion phased with Nasik plant capacity to increase to 28,000 units per month initially.

Maruti Suzuki and Hyundai Motor India also pursuing aggressive expansion plans in the EV market in India.

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