Mahindra To Launch 23 Products By 2030

It's barely been a few weeks since Mahindra launched the revised iteration of the XUV 300 aka XUV 3XO. Now, the marque has revealed its ambitious plan for the future building up to 2030. By this, it plans to launch nine ICE-powered SUVs, seven EVs (BEV), and seven light-commercial electric vehicles (LCV). Besides introducing new products, the investment will also be used to ramp up production from the current 6 lakh units to 8.64 lakh units in a year.

Among the nine new ICE-powered SUVs, six will be brand-new introductions, while three will be refreshed models. To bring this plan to fruition, Mahindra will invest ₹27,000 crore by 2030. Out of which ₹8,500 crore will be reserved for ICE SUVs. While the rest, ₹12,000 crore will be for EVs, ₹4,000 crore will be for commercial vehicles, and ₹1,500 crore will be reserved for sustenance. 

It should be noted here that the decision to invest in ICE SUVs does come as a surprise, especially against the backdrop where EVs are becoming more popular day by day. However, Mahindra continues to register solid sales figures, and in the fourth quarter of 2024, Mahindra’s total sales increased by 14 per cent. 

Interestingly, Mahindra still has a backlog of 2.2 lakh units of its ICE SUVs. Additionally, the new Mahindra XUV 3XO has already garnered over 50,000 bookings since its launch last month. So, Mahindra banking high on its ICE SUVs, is more of the brand reflecting its growing trend. 

Besides, we already know that Mahindra is gearing up for the launch of the new 5-door Thar. The Mahindra XUV700 is also set to receive a facelift, and later on, the Scorpio-N will follow the same route. In addition to that, Mahindra also revealed its new range of “Born Electric” SUVs, which will be underpinned by the brand’s new INGLO platform and include the likes of the XUV.e8, XUV.e9, BE.05, BE.07, and BE.09. Furthermore, Mahindra had also trademarked the names 1XO, 5XO, and 7XO. Now whether these models will also be launched by 2030, remains to be seen.