Mahindra XEV 9e Mahindra & Mahindra (M&M), which unveiled its born electric SUVs-- BE 6 and XEV 9e-- in November, has plans to spearhead its globalisation strategy for the automotive business with these models. Built on the innovative INGLO (Intelligent Electric Global) platform, these SUVs mark the first of its electric origin offerings.
“We really would want to go global, but we are also mindful that globalisation is a simpler said than done strategy. We want to do it in a phased and calibrated manner,” Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) at Mahindra & Mahindra, told ETAuto.
“After we have established ourselves here, we look at going to some right hand drive (RHD) markets around the world-- maybe UK, and learn from the experience,” he said.
Jejuriker added that the company will consider entering the left hand drive (LHD) markets “over a period of time”, but everything will be in a phased manner.
In an earlier interview, M&M had stated it is aiming to “scale international operations revenue by 2.5 times by FY26 and further onward”. However, the initial focus is on gaining a sizable presence in the domestic market.
India Market
Currently, Mahindra offers just one EV model in the country– XUV400 EV. On Tuesday, the Mumbai-based automaker introduced two new variants of BE 6 and XEV 9e priced at INR 26.9 lakh and INR 30.5 lakh, respectively. (all prices, ex-showroom).
The company, which has a significant presence in the SUV market, will produce both the BE brands at its Chakan plant. Deliveries are expected to begin in March this year.
The entry-level variants of BE 6 and XEV 9e are priced at INR 18.9 lakh and INR 21.9 lakh, respectively.
The plan for India market is to target monthly sales of 5,000 units of the two newly launched electric SUVs during the initial phase. “..and then ramp up as we go along.”
Currently, automakers including Tata Motors, Mahindra, JSW MG Motor, BYD, Hyundai are in a race to take up the largest share of the electric PV segment. In CY2024, this market recorded 99,004 units, marking a year-on-year growth of 20% over 82,563 units sold in CY2023.
Global Presence
Mahindra has a wide presence in the global market with its farm equipment business. It exports vehicles to 30 countries, including those in South Asia, the Middle East, Africa, South Africa, Australia, New Zealand, and some LHD markets in South America.
In 2023, the automaker also introduced its XUV700 and Scorpio-N models in Australia and New Zealand, where it already sells a pick-up version of the Scorpio. In 2022, M&M launched the XUV700 and Scorpio-N in South Africa.
In the United States, it currently sells tractors and small off-road vehicles.
Back in 2006, Mahindra started work on the development of a pickup truck version of its popular Scorpio utility vehicle for the US market, spending about USD 100 million. However, the plan to introduce the model in 2012 was later scrapped owing to legal disputes and failure to win the needed certification.
