M&M to expand its global presence, doubles passenger vehicle exports in July

Indian automaker Mahindra & Mahindra is rapidly expanding its global presence in its passenger and farm equipment segments.

The company that showcased its Thar electric vehicle and Global Pik Up concept in Capetown, South Africa on August 15 plans to introduce its Global Pik Up in international markets including South Africa, New Zealand, MENA, South and Central America. The company aims to have a double-digit market share in the Pik Up category in its international markets.

“The move with the Global Pik Up is poised to not only reinforce our presence in existing markets but also pave the way to new frontiers,” said Veejay Nakra, President – Automotive Sector, Mahindra & Mahindra Ltd.

Thar electric vehicle will be on the company’s INGLO electric platform with AWD electric power train and will incorporate 50 percent recycled PET and uncoated plastics. Thar in its electric vehicle version will be manufactured in the company’s Chakan plant which has a capacity of 2,00,000 vehicle units. The plant will be used to manufacture electric vehicles at full capacity between 2027 and 2029.

Further, M&M has partnered with Dolby Atmos and Harman Kardon to bring sound experiences to in its battery-electric vehicles. The company has also collaborated with AR Rahman for its new range of born electric vehicles. The electric vehicle offering ranges will consist of BE, XUV.e, THAR.e, SCORPIO.e and BOLERO.e. 

Increased exports

According to industry data, SIAM Mahindra & Mahindra Ltd has increased its passenger vehicle exports. In July 2023, the company exported 1,348 vehicles as compared to 647 vehicles exported in July 2022.

The company also increased its passenger vehicle production year-on-year. In July 2023 M&M manufactured 38,996 vehicles as against 27,716 vehicles in July 2022.

In its farm and equipment segments, the company exported 18,000 units in FY23 and plans to double the export volume in three years.

EV Global growth

As the company will introduce its electric vehicles in the domestic market in phase 2 the company plans to expand its electric vehicles in the UK and European markets.

“We have maintained the adventurous spirit and off-roading capability that is quintessentially Thar, but we have crafted a unique identity in the world of electric SUVs. This endeavor goes beyond creating another off-roader; it shapes a vision that represents a progressive step in automotive design, without losing sight of where we came from. Thar. e is our declaration of an exciting and responsible future,” said Pratap Bose, Chief Design Officer, Mahindra & Mahindra Ltd. 

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