Leading auto maker Mahindra and Mahindra has lined up nine internal combustion engine (ICE) based SUVs by 2030, the company said in press briefing after quarterly results on May 16.
Three of these would be mid-cycle enhancements and six will be new SUVs.
The current capacity of XUV 300 stands at 9,000 units per month, which the company hopes to fully utilise, MD Anish Shah said. The response to the XUV 3Xo has been 'phenomenal', M&M top management said in the press briefing.
The company will also be launching seven electric vehicles and light commercial vehicles each, Rajesh Jejurikar, Executive Director and CEO - auto and farm equipment sector, M&M added.
A robust demand for SUVs has helped M&M post a strong fourth quarter results, taking the share to the top of Sensex gainers for the day. Mahindra sold 27.2% more SUVs in the three months to March 31 from a year earlier. Utility vehicles accounted for more than half of passenger vehicle sales in India in FY24, rising 31% year-on-year.
Also Read: M&M plans to investment Rs 12,000 crore in its EV unit
The export of SUVs too has seen momentum in the quarter, with both electric and hybrid finding takers, M&M said. Anish Shah sounded confident of taking the leadership spot in e-SUVs too, and said the company will be launching a portfolio of electric products in January-March of 2025. The e-SUVs too will follow M&M's brand DNA of sporty, fun to drive cars in the segment, Shah added.
EVs will make up 30 percent of M&M's SUV portfolio by 2027, according the company.
This story is being updated
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