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Wednesday, May 22, 2024

M&M plans massive ₹26,000 crore investment in auto industry

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In Short:

Mahindra & Mahindra Ltd plans to invest ₹26,000 crore in its auto business over the next three years. ₹12,000 crore will go to its electric vehicle unit MEAL. The company aims to grow in ICE and electric vehicles, ramp up SUV and electric vehicle capacity, and introduce new vehicles. Mahindra & Mahindra expects mid- to high-teen growth this year and is focusing on becoming a significant player in the electric vehicle market.

**Mahindra & Mahindra Announces Big Investment Plans**

Exciting news for all auto enthusiasts as **Mahindra & Mahindra Ltd** has revealed plans to invest a whopping ₹26,000 crore in its automotive business over the next three years. The company is gearing up for an anticipated surge in auto demand.

**Major Investments**

Out of the total investment, an impressive ₹12,000 crore will be directed towards the electric vehicle unit, **Mahindra Electric Automobile Limited (MEAL)**. The company aims to develop new vehicles and expand its capacity through these investments.

**Focus Areas**

**M&M** will be focusing on both Internal Combustion Engine (ICE) vehicles and electric vehicles. Managing Director, **Anish Shah**, highlighted the importance of investing in both segments to stay ahead in the market.

**Growth Plans**

The company is optimistic about achieving mid- to high-teens growth this financial year. By 2027, they aim to have up to 30% of their SUV portfolio consist of electric vehicles.

**Capacity Expansion**

**M&M** plans to ramp up its capacity significantly. They plan to increase SUV and electric vehicle capacities by several thousand units by the end of fiscal year 2026.

**New Vehicle Introductions**

Exciting news for auto lovers as **M&M** plans to introduce 9 new ICE SUVs, 7 Born Electric Vehicles (BEV), and 7 Light Commercial Vehicles (LCV) in the coming years.

**Electric Vehicle Focus**

**MEAL** will primarily utilize the funds to develop and market a world-class electric SUV portfolio with advanced technologies.

**Financial Backing**

Despite the significant investments by **M&M**, British International Investment and Temasek have also shown their support by investing in the company’s electric platform.

**Impressive Performance**

With auto sales soaring, **Mahindra & Mahindra Ltd** achieved a milestone by crossing 100,000 unit sales for the first time in FY24. Their revenue market share in the SUV segment has also seen a notable increase.

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