In order to fulfill the growing demand for electric vehicles, Mahindra Group is looking for international partners for local battery cell manufacture. By 2030, the company also intends to list Mahindra Electric Automobile Ltd. and launch 23 new models.
In order to build local battery cell manufacture in India in advance of the future rising demand for electric vehicles (EVs), Mahindra Group is actively exploring partnerships with global players. The action is a component of Mahindra’s strategic plan to expand its presence in the electric vehicle market and support India’s objectives for sustainable mobility.
By 2030, the business plans to IPO Mahindra Electric Automobile Ltd (MEAL), its division dedicated to electric vehicles. This choice is consistent with Mahindra’s aggressive ambitions to launch 23 new cars that year, seven of which would be battery electric vehicles (BEVs).
Mahindra Group has set aside ₹37,000 crore for the next three years, much of which would go toward the automobile industry. By 2030, 23 new cars—a combination of SUVs with internal combustion engines, battery-electric cars, and light commercial vehicles—will be introduced thanks to this investment.
When speaking about the possible location of the battery cell production facility, Anish Shah, the MD and CEO of Mahindra Group, reaffirmed that the sole motivation for the move is to indigenize in India. Therefore, if we follow that course, it will be in India.
He projected a more realistic date for the listing, around 2030, pointing out that the electric car market needs time to acquire momentum and public approval.
The Mahindra Group is dedicated to electrification in many ways than just manufacturing. Shah emphasized the allure of electric vehicles (EVs) to consumers, pointing out that the introduction of new EV models beginning in January 2025 will be pivotal.
Notwithstanding the optimism around electric cars, Shah saw a number of obstacles impeding the market’s expansion. He listed two major obstacles that need to be addressed: range anxiety and the high initial cost of EVs. Shah also emphasized the critical need of developing India’s EV charging infrastructure, highlighting the glaring discrepancy in charger availability when compared to nations like the US and China.
With an emphasis on the urgent need for expedited infrastructure development, Shah pointed out that the nation now has about 27,000 chargers. China will have considerably more chargers than the US, which has about 1.76 lakh.
Mahindra places a great deal of emphasis on financial accessibility when encouraging the use of electric vehicles. Shah revealed intentions to gradually increase the percentage of electric vehicles in their lineup to 20–30% by 2027, subject to consumer demand and the expansion of the charging infrastructure.
Shah outlined the environmental advantages propelling the wider switch from internal combustion engines (ICE) to electric powertrains. He emphasized that governments everywhere should encourage the adoption of electric vehicles (EVs) for the very good reasons of lowering fuel imports and enhancing environmental purity.
