M&M looks to turbocharge EV sales

EVs to make up 20-25% of SUV portfolio by’27-28

- AKBAR MERCHANT

MAHINDRA & MAHINDRA (M&M) expects to sell around 7,000 electric vehicles (EVs) per month by the end of the current fiscal and is targeting EVs to contribute 20-25% of its overall SUV portfolio by 2027-28, Rajesh Jejurikar, executive director and CEO for the auto and farm sectors, said on Thursday.

The company currently sells 4,000-5,000 EVs a month and is scaling up production and retail infrastructure to support the next phase of growth. “We are moving to an operating production capacity of electric vehicles to 8,000 units per month by fiscal end, out of which we hope to sell 7,000 units a month,” Jejurikar said. He added that EV penetration in the SUV portfolio is set to rise sharply from the present 8.7%. “We see 20-25% of our SUV portfolio being EVs by 2027-28.”