New Delhi, Mahindra Group plans to invest Rs 37,000 crore in business sectors over the next three years, with a major portion earmarked for the auto sector to launch 23 new vehicles, its MD and CEO Anish Shah said. Said on Thursday.
The company plans to introduce nine internal combustion engine (ICE) SUVs, seven battery electric vehicles (BEVs) and seven light commercial vehicles by 2030.
Of the nine ICE SUVs, six will be all-new models and three will be refreshed versions of existing models.
"Over the next three years, we are looking at deploying Rs 37,000 crore of cash. A major portion of this is going into the auto vertical," Shah told reporters at an earnings conference.,
The company is not going to ignore the internal combustion engine (ICE) models as they will continue to be an important part of the company's product portfolio. "This will be important for consumers over the next five to seven years," he said.
The company has earmarked Rs 27,000 crore for the auto division between FY25 to FY27. The company will invest Rs 14,000 crore on introducing new modes in the ICE vertical as well as launching refreshed versions of existing models to ensure that the company has the best SUV portfolio.
Shah further said that the EV segment will get Rs 12,000 crore."The auto business is self-generative from a cash point of view and the company will not need funds from outside," he said on funding the investment.
Apart from this, the company will invest Rs 5,000 crore in agriculture and services business. Rajesh Jejurika, executive director and CEO (auto and farm sector), M&M, said the company plans to increase its SUV manufacturing capacity to 64,000 units per month from the current 49,000 units per month by the end of next year.
“At the end of FY26, we expect it to be in the range of 72,000 units per month,” he said.
Responding to a question, he said M&M is looking at "mid to high teens" sales growth for its SUVs this financial year, which is expected to be higher than the industry growth rate, Jejurikar said.So we see hybrid as an extension of ICE... and to the extent I need it, we'll be ready for it."
When asked about India's new EV policy, he welcomed it and said that it is in line with the 'Make in India' initiative.
“We have always been saying that we should encourage all automakers to Make I India, we welcome competition. We have become much better with competition. Grow with competition.So we are very happy with the competition coming to India,” he said.
The company plans to introduce nine internal combustion engine (ICE) SUVs, seven battery electric vehicles (BEVs) and seven light commercial vehicles by 2030.
Of the nine ICE SUVs, six will be all-new models and three will be refreshed versions of existing models.
"Over the next three years, we are looking at deploying Rs 37,000 crore of cash. A major portion of this is going into the auto vertical," Shah told reporters at an earnings conference.,
The company is not going to ignore the internal combustion engine (ICE) models as they will continue to be an important part of the company's product portfolio. "This will be important for consumers over the next five to seven years," he said.
The company has earmarked Rs 27,000 crore for the auto division between FY25 to FY27. The company will invest Rs 14,000 crore on introducing new modes in the ICE vertical as well as launching refreshed versions of existing models to ensure that the company has the best SUV portfolio.
Shah further said that the EV segment will get Rs 12,000 crore."The auto business is self-generative from a cash point of view and the company will not need funds from outside," he said on funding the investment.
Apart from this, the company will invest Rs 5,000 crore in agriculture and services business. Rajesh Jejurika, executive director and CEO (auto and farm sector), M&M, said the company plans to increase its SUV manufacturing capacity to 64,000 units per month from the current 49,000 units per month by the end of next year.
“At the end of FY26, we expect it to be in the range of 72,000 units per month,” he said.
Responding to a question, he said M&M is looking at "mid to high teens" sales growth for its SUVs this financial year, which is expected to be higher than the industry growth rate, Jejurikar said.So we see hybrid as an extension of ICE... and to the extent I need it, we'll be ready for it."
When asked about India's new EV policy, he welcomed it and said that it is in line with the 'Make in India' initiative.
“We have always been saying that we should encourage all automakers to Make I India, we welcome competition. We have become much better with competition. Grow with competition.So we are very happy with the competition coming to India,” he said.
