Mahindra unveils Vision 2027 to expand SUV lineup, target global markets

Mahindra & Mahindra is gearing up to roll out new SUVs to cater to both domestic and export markets as part of its Vison 2027, group CEO and MD Anish Shah said on Friday.

Speaking at an event, which showcased company's new platforms and growth strategy, he noted that the automaker has become number one player in SUVs outpacing global giants.

"Today, I am honoured to unveil our bold new vision for 2027 that will become the backbone of our next generation of world-beating SUVs, engineered right here in India, for India and the world," Shah stated.

He stated that just five years ago the the company set out with bold ambitions to lead, not follow; to disrupt, not be disrupted; to place Indian ingenuity and resilience on the global stage.

"From the rugged Thar to the sophisticated XUV700, from the Scorpio's legacy to our BEV electric range, we have transformed challenges into opportunities - outpacing global giants, becoming India's No 1 SUV company, via achieving record growth in SUV sales," Shah stated.

With recent overseas launches of XUV700 and XUV3XO, the company has also been able to make great strides in international markets, he added.

"There was a time when global automakers dominated our roads and aspirations. Today, the tide has truly turned. Indian companies like Mahindra are now at the forefront of technology, scale, and ambition," Shah stated.

He noted that the company's Chakan-based manufacturing plant is scaling for global demands, as the automaker looks to embrace every opportunity to serve customers across continents.

"We will continue to innovate relentlessly to solve for unmet customer needs using both engineering prowess and advanced technology," Shah stated.

Mahindra is already looking at exporting its electric vehicles to the UK, leveraging improved trade opportunities following the finalisation of the India-UK free trade agreement.

The company's SUV market share has grown from 11 per cent to 27 per cent in the domestic market.

In the last quarter alone, the automaker has seen a growth of 5.7 percentage points in terms of the market share in the vertical.