Mahindra & Mahindra (M&M), a major player in the Indian automotive industry, is planning to expand its electric vehicle (EV) portfolio with a significant investment of ₹16,000 crore over the fiscal years 2022 to 2027.
M&M aims to offer customers a comprehensive range of vehicle options, including both internal combustion engine (ICE) vehicles and electric models, through its existing sales network.
The company recently introduced two new electric models, the BE 6e and XEV 9e, and plans to maintain a unified sales channel for all vehicle options to enhance the customer experience.
M&M's strategy is designed to allow customers to easily compare ICE vehicles with EVs, potentially leading to increased sales across both categories.
The company is also investing in specialized training for its sales and service teams to cater to the unique challenges associated with electric vehicles.
While M&M is focused on the domestic market initially, it plans to explore international opportunities in the future.
Overall, M&M's approach reflects its commitment to sustainability and its recognition of the growing demand for electric vehicles in India.