Mahindra & Mahindra has been on a roll for the last couple of years, flooding the market with new products starting from the XUV 700 in 2021, followed by Scorpio N, Thar Roxx and now the born electric duo — the XEV 9e and the BE 6. The company registered an 18% growth last quarter, and according to FADA (Federation of Automobile Dealers Associations) retail sales data, Mahindra sold 48,405 units in April. This is a massive 25.09% year-on-year increase. With such positive signs, Rajesh Jejurikar, ED and CEO – Auto and Farm Sectors, M&M, said during the Q4 earnings call that the company will start working on a completely new greenfield project to be up by FY28. Mahindra has confirmed that the new plant will be focused on passenger vehicles (PV).
Speaking to the media at the Q4 call, Jejurikar said, “It will be a large, futuristic plant that will be set up. At this point, we’re thinking of it as primarily a PV plant, but we would need the provision, maybe for some other elements in our business to come in as we start conceptualising and see what kind of investment subsidies we get in different states as we plan for the future.” The location for the new plant has not been finalised yet, and the company is in talks with many state governments. The final decision is expected to be based on the subsidies and incentives offered by the states.
Ramping up production
Mahindra has confirmed that it will increase its monthly production output from 61,500 units to 85,000 units by the end of FY26. Once it achieves this goal, Mahindra will cross the 1 million units output annually for the first time. Jejurikar said that the company will be increasing both the 3XO and Thar Roxx capacity by 3000 units in FY26. Currently, the 3X0 and Thar Roxx churn out 9,000 and 10,5000 units respectively.
