Mahindra Gears Up for EV Expansion with Two New Launches

Mahindra & Mahindra is set to accelerate its electric vehicle (EV) journey, with Executive Director Rajesh Jejurikar confirming two new EV launches next week. Supported by GST-driven market momentum and a refreshed internal combustion engine (ICE) roadmap, Mahindra aims to boost EV volumes starting early 2026.

Mahindra Confirmed Two EV Launches

After weeks of market speculation, Mahindra confirmed that it will unveil two new EVs on November 26 and 27, rather than a single launch as previously expected. Jejurikar noted, “Till now, everyone was expecting one… it is actually two launches that we're doing on the 26th and 27th.”

The launches mark a significant step in Mahindra’s EV strategy, emphasizing a deliberate and measured approach to entering the electric mobility market.

Strategic EV Journey and Organizational Learning

Mahindra’s EV journey has been shaped by organizational learning and ecosystem readiness. Over the past six months, the company focused on:

• Building channel and dealership readiness

• Enhancing back-end processes and quality

• Improving software capabilities

Jeurikar explained that some products were intentionally phased out to allow the EV ecosystem to mature, ensuring smoother operations and better customer experiences.

EV Volume Ramp-Up Plans

With the groundwork in place, Mahindra anticipates EV volumes to climb starting January 2026, in line with its target of 4,000–5,000 units per month. This marks a new phase in the company’s commitment to expanding its electric vehicle footprint across India.

ICE Roadmap and the New iQ Platform

On the internal combustion engine (ICE) side, Mahindra is also laying out a future-ready roadmap. The recently unveiled iQ platform, announced on August 15, will underpin a fresh lineup of ICE models launching from 2027.

Jeurikar shared, “The first lot of products… are ICE products. And there are some really exciting products.” Four ICE concepts have already been shown to investors, signaling Mahindra’s dual focus on electric and traditional vehicles.

Impact of GST Cuts on the Auto Sector

Jeurikar highlighted the transformational effect of the GST cut on the Indian auto industry. He called it a “landmark decision”, noting that commercial operators are seeing immediate benefits due to a 10% price reduction, which significantly impacts total cost of ownership.

The GST cut has also encouraged Mahindra to revise its five-year tractor industry growth outlook from 7% to 9%, reflecting the positive impact on both commercial and consumer segments.

SUV Demand and Sales Performance

Post-festivals, Mahindra reported strong SUV demand, supported by new product launches. The company achieved a 31% year-on-year rise in SUV sales, marking its highest monthly growth to date.

This robust performance underscores Mahindra’s ability to capitalize on market incentives, consumer demand, and strategic product planning, aligning both its EV and ICE portfolios for long-term growth.

Conclusion

Mahindra & Mahindra’s upcoming dual EV launches, combined with a refreshed ICE roadmap and GST-driven market momentum, signal a major step forward in the company’s electrification and growth strategy. With preparations for channel readiness, quality improvements, and software integration, Mahindra is poised to ramp up EV volumes in 2026 while sustaining strong sales in its ICE and SUV segments.