Mahindra New EVs Garner ₹8,472 Crore in Bookings on Launch Day

The Indian electric vehicle (EV) market has been witnessing remarkable growth, with sales reaching nearly 1 lakh units last year. The surge in demand reflects an increasing shift among consumers toward sustainable and eco-friendly mobility solutions. Against this backdrop, Mahindra & Mahindra has made a significant impact in the segment with its latest electric SUVs.

Mahindra’s Record-Breaking Bookings for XEV 9e and BE 6

Mahindra & Mahindra announced an extraordinary response to the launch of its latest electric SUVs—XEV 9e and BE 6—securing 30,179 bookings within the first 24 hours. This translates to a whopping ₹8,472 crore in revenue at ex-showroom prices, marking one of the most successful EV launches in India.

The XEV 9e accounted for 56% of total bookings, while the BE 6 contributed the remaining 44%. The impressive booking numbers highlight strong consumer interest in Mahindra’s Electric Origin lineup, reinforcing the brand’s position in the growing EV market.

Anand Mahindra Celebrates the Achievement

Mahindra Group Chairman Anand Mahindra expressed excitement over this milestone, calling it a new record in the EV category. His statement, shared on social media platform X (formerly Twitter), underscored the company’s confidence in the future of electric mobility in India.

High Demand for Premium Variants

A significant trend emerging from the bookings is the strong consumer preference for premium models. 73% of total bookings were for the top-end Pack Three variant, which comes with a 79 kWh battery pack, offering an extended driving range and advanced features.

The pricing for Mahindra’s new electric SUVs ranges between ₹18.9 lakh and ₹30.5 lakh (ex-showroom), making them competitive offerings in the mid-to-premium EV segment.

India’s EV Market Poised for Expansion

The milestone achieved by Mahindra aligns with India’s growing EV adoption rate. With the country witnessing a rapid transition towards sustainable transportation, automakers are ramping up their efforts to introduce innovative, high-performance electric vehicles.

Experts believe that rising fuel prices, government incentives, and improvements in EV charging infrastructure are contributing to the surge in demand for electric cars. Mahindra’s strong entry into this segment is expected to further accelerate this trend.

Market Analysts Weigh In on Mahindra’s Success

According to Mumbai-based brokerage firm Elara Capital, the overwhelming response to Mahindra’s new EVs is a positive sign for the company. The firm predicts that if Mahindra continues to focus on product innovation, it can achieve its ambitious goal of selling 8,000 to 9,000 units per month by March 2027.

The report further highlights that Mahindra’s successful execution of its EV strategy will be crucial for its long-term dominance in the electric vehicle market.

Stock Market Reaction: M&M Shares Decline

Despite the strong bookings, Mahindra & Mahindra’s stock price faced a dip in the stock market. On Monday, February 17, M&M shares were trading 3.43% lower at ₹2,841.75 apiece on the Nifty 50 index.

Market analysts attribute this decline to broader market fluctuations and investor concerns over the company’s production capacity and supply chain management in meeting the soaring demand for its new EVs. However, long-term prospects remain positive, given the robust initial response to the launch.

Mahindra’s Vision for the Future of Electric Mobility

Mahindra has aggressive expansion plans for its Electric Origin lineup, focusing on innovation, sustainability, and affordability. The automaker aims to strengthen its position in the EV segment by introducing new models, expanding charging infrastructure, and enhancing battery technology.

With an increasing number of consumers shifting toward eco-friendly vehicles, Mahindra’s latest success serves as a testament to the evolving automotive landscape in India.