Mahindra & Mahindra said on May 5 it is pushing ahead with its electric vehicle plans through a focused product roadmap and a bid to speed up electrification. The company, among India’s key EV players, said it delivered 6,300 electric passenger vehicles in just 40 days, signalling growing traction in the segment.
In a separate development, Mahindra announced plans to unveil a new EV platform on August 15, further cementing its long-term commitment to electrification. By 2030, the company aims to launch seven internal combustion engine (ICE) models, five battery electric vehicles (BEVs), and five light commercial vehicles (LCVs).
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While Mahindra acknowledged that its EV business will take a few quarters to achieve EBIT margin positivity, it is laying the groundwork for international expansion. The company said it will look to enter the European Union market through its EV vertical, although it currently has no plans to foray into North America and is not actively pursuing trade deals in South Africa or Australia.
During the quarter, it reported a 22 percent jump in standalone net profit at Rs 2,437 crore for the quarter ended March 31, 2025. The firm's revenue from operations rose 24 percent to Rs 31,609 crore in Q4FY25 as against Rs 25,434 crore in Q4FY24. The company's revenue from operations rose 24 percent to Rs 31,609 crore in Q4FY25 as against Rs 25,434 crore in Q4FY24.
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Anish Shah, Group CEO & Managing Director, M&M said, “We have delivered strong growth on the back of stellar execution in F25. Auto and Farm continue to gain market share and expand profitability. We continue to build strong businesses which will deliver significant value to our stakeholders."
At about 2:55 pm, shares of the company were trading at Rs 3,022, higher by 3.3 percent from the last close on the NSE. Given the recent rally, M&M's share price has risen over 16 percent in the past one month.
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