M&M Aims to Reach 2 Lakh EVs Annually by 2027-2029, Envisions 30% EV Volume by 2030

17 Aug 2023 , 11:34 AM

Mahindra & Mahindra’s president of the automotive sector, Veejay Nakra, has revealed ambitious plans for electric vehicle (EV) manufacturing at its upcoming Chakan factory in Maharashtra. The company anticipates hitting an annual peak production of 2 lakh units between 2027 and 2029 at this facility. By 2030, EVs are projected to constitute 30% of the total volume.

Having obtained the Maharashtra government’s approval for a Rs 10,000 crore EV plant near Pune earlier this year, Mahindra aims to make this investment over 7-8 years. The investment will support the establishment of the manufacturing plant and the development of the next Born Electric (BE) vehicle models.

Nakra stated, ‘The production at Chakan plant is expected to start 4-5 months prior to that, and the first product under the BE range is expected to hit the markets by the end of next year.’

Mahindra is targeting substantial market shares, aiming for a double-digit market share in these regions. The company recently unveiled a pick-up concept intended for global markets, along with a new graphic identity for its upcoming line of BE cars.

To enhance its brand identity, Mahindra collaborated with musical legend A R Rahman to create a brand song and introduced a unique sound signature for its upcoming lineup of international electric SUVs. This sonic identity comprises over 75 distinct sounds tailored for various aspects of the vehicles, enhancing the overall EV experience.

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