One-third of Mahindra cars to be electric by 2027
Mahindra, one of the top automakers in India, is gearing up to make a significant shift toward electric vehicles (EVs). The company's CEO, Anish Shah, announced plans to convert 30% of their total vehicle production to EVs by FY2027. This move is part of the SUV maker's strategy to meet sustainability goals and stay ahead in the rapidly expanding EV market. Shah also revealed that they are set to launch five all-electric SUV models starting in December this year.
Ambitious growth plans and upcoming competition
The company has ambitious goals for the future, aiming for 50% of its production to be electric vehicles by FY2030. Shah said that the automaker is hoping to make a million EVs in India by 2030. With competitors like Tesla potentially entering the Indian market in 2024, Shah remains confident in Mahindra's ability to outperform rivals.
Mahindra Group's AI ambition
In addition to their EV plans, Anish Shah also shared that Tech Mahindra, the IT business arm of Mahindra Group, is heavily invested in artificial intelligence (AI) research and development. They are currently working on a unique AI search engine. Shah also mentioned that after completing a multi-year corporate clean-up, the company is now well-positioned for about 5X growth in the next five to seven years.
