M&M to make 2L EVs at Chakan plant by 2029: Veejay Nakra
The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he added.
CAPETOWN: Mahindra & Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit peak production mark of 2 lakh units per annum between 2027 and 2029, as per company president - automotive sector, Veejay Nakra.
The company estimates that EVs would account for 30 per cent of the overall volumes by 2030. In January this year, the auto major received an approval from the Maharashtra government to set up a Rs 10,000-crore electric vehicle plant in Chakan near Pune. The company, through its subsidiary, will make this investment over a period of 7-8 years for setting up the manufacturing facility, development and production of its upcoming Born Electric (BE) models.
“We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029,” Nakra said here.
The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he added.
M&M sells a single electric model - XUV400 - in the passenger vehicle segment which is rolled out from its Nashik plant in Maharashtra.
It however is the leading player in the domestic electric three-wheeler space with over 70 per cent market share.
Based on the INGLO EV Platform, the automaker plans to introduce five electric SUV models under two brands - XUV and the all-new electric-only brand called BE.
Legacy brands will come under XUV brand while the all new electric model would be rolled out under the BE lineage. Mahindra had showcased some of the battery electric vehicle concepts last August in Oxfordshire, UK.
Asked about the percentage of sales the company expects from EVs as compared to the internal combustion engine portfolio, Nakra said: “About 30 per cent of our portfolio would be from electric vehicles between 2027 and 2030.”
To a query regarding separate showrooms for BE products in India, Nakra said it “is a work in progress.”
Auto major aims at going global
Mahindra & Mahindra said it aims to bolster its presence globally as it unveiled a pickup concept, which it plans to introduce in the international markets. The auto major, which also showcased the electric version of its sports utility vehicle Thar, noted that it plans to sell its Born Electric (BE) products in markets like Europe and the UK. The company said its products are doing well in the domestic market and it is now time to scale up business in overseas geographies. “We are going to go global...We are off course a strong brand in India, we believe our products are able to compete with the best in the world,” M&M executive director-CEO (Auto and Farm Sectors) Rajesh Jejurikar said here. Elaborating further, Nakra said the automaker is a leader in various segments in the domestic auto market. “We intend to add new potential markets like the UK and Europe and when we bring the global pickup, we want to expand our presence and reach new markets like ASEAN,” he noted.