28 May 2021: Mahindra to introduce eight new cars in India by 2026
Mahindra has announced that it will launch as many as eight new cars in India by the end of 2026 and shall invest Rs. 3,000 crore on EV development. The automaker has also shared its financial results for Q4 FY2021, recording a net profit of Rs. 163 crore. In comparison, it suffered a loss of Rs. 3,255 crore in the same quarter last year.
Future models: A 5-door Thar SUV is in the works
Mahindra's second-generation Thar SUV is a top-selling model and the company has announced that it has received over 55,000 orders for it. To cater to the customers' needs, the company is now working on a new base model that will miss out on a 4x4 drivetrain but shall have five doors. However, the vehicle will not be launched in the country before 2023.
Fact: Three cars will be unveiled between FY2024-2027
Two new Mahindra cars—codenamed W620 and V201—and the all-new XUV300 will debut between FY2024-2027. The new-generation XUV300 will also get an electrified version.
Electric cars: Two BEVs to be launched in FY2025-2026
In FY2022, the new-generation Scorpio and XUV700 SUVs will be launched. The new Bolero is slated to debut between FY2023-2026. From FY2023 onwards, all the new models including the XUV700, will get an electrified variant. Finally, in FY2025-2026, the home-grown automaker will launch two new battery electric vehicles (BEVs) which will be based on the Born EV platform.
Fact: Rs. 9,000 crore will be invested in the auto business
Mahindra has also announced that between FY2022-2024, it will invest Rs. 9,000 crore in the auto business. Out of this sum, roughly Rs. 3,000 crore will be allocated toward EVs and the rest will be spent on the internal combustion engine (ICE)-powered vehicles.
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Also see: Lamborghini to launch its first all-electric car by 2030
Toyota to launch 15 new electric vehicles by 2025
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