Mahindra Achieves 8% EV Share, Tops e-SUV Revenue Charts

Mahindra & Mahindra (M&M) recorded a new high in its electric vehicle (EV) journey, with EVs accounting for 8 percent of its total SUV volumes in Q1 FY26 — underscoring the brand’s growing traction in India’s emerging e-mobility landscape. The company also retained its No. 1 leadership position in the electric SUV segment, topping both revenue and volume market shares, reaffirming its dominance in this rapidly expanding market.

At the Q1 earnings conference, Executive Director Rajesh Jejurikar said that M&M achieved a 44.3 percent revenue market share in the electric SUV category, alongside a 31 percent volume market share, reinforcing its position as a frontrunner in India’s electrification drive. “Our electric SUV penetration is now close to 8 percent, and the pace at which it is rising reflects the market’s growing confidence in our offerings,” Jejurikar noted.

Born Electric Pipeline Set to Accelerate Momentum

Mahindra’s EV strategy is poised for further acceleration with the upcoming Born Electric (BE) series, including the BE.06 and XEV 9E. These next-generation, purpose-built electric vehicles are expected to evolvethe brand’s design and technology language while expanding its EV market presence beyond early adopters.

Wider Outperformance in Electric Passenger Vehicles

Beyond SUVs, M&M also holds a 40.9 percent revenue market share in the overall electric passenger vehicle (e-PV) segment, covering both cars and SUVs — underscoring its strategic depth and early mover advantage in high-margin electric offerings.

Despite a relatively soft overall auto market in Q1, Mahindra’s EV business demonstrated continued momentum, driven by product readiness, brand equity, and robust forward planning. As it ramps up EV production and prepares for multiple model introductions, Mahindra is positioning itself to remain a dominant force in India’s clean mobility transition.