Mahindra aiming to have 1.8 lakh units EV production capacity in FY26

Mahindra has set an ambitious goal to produce 1.8 lakh electric vehicles (EVs) by the end of fiscal year 2026. This target will be achieved in two phases: one lakh units by the end of FY 2025, followed by an additional 80,000 units by the end of FY 2026.

At first glance, Mahindra’s approach to EV production may seem cautious. The production plan translates to nearly 10,000 units per month in the first year and 15,000 units per month in the second year, spread across three to four models. However, looking at the bigger picture, Mahindra aims for a total production capacity of 6.4 lakh units by the end of FY25 and 7.2 lakh units by the end of FY26. By the end of FY26, EVs are expected to constitute 25% of Mahindra’s total output.

Currently, Mahindra offers the XUV400 small SUV. This lineup will expand with the introduction of the XUV.e8 in early 2025, the XUV.e9 (a coupe SUV) in April 2025, and the BE.05 in October 2025. Additionally, new models such as the BE.05/BE.05 Rall-E, BE.07, and BE.09 will be launched. Mahindra also plans to electrify popular models like the Scorpio, Bolero, and Thar by 2030.

Mahindra has indicated that these India-made EVs will not only cater to the domestic market but will also be exported. Initially, exports will target right-hand drive (RHD) markets, followed by left-hand drive (LHD) locations.