M&M readies itself with 10,000 units per month capacity for EVs

Mahindra & Mahindra's (M&M) upcoming 'born electric' SUVs—the XEV 9e and BE 6e—will be supported by an additional production capacity of 10,000 units per month by March 2025, Rajesh Jejurikar, M&M’s Executive Director & CEO (Auto and Farm Sector), said on Thursday at the company's post Q2FY25 results press conference. 

"The new capacity addition will kick in now when we start our electric origin SUVs. By March, 10,000 additional capacity will get ready. We have no immediate plans to add new ICE capacity except for the Thar Roxx where we'll add a couple of thousands," he said. 

Thanks to significant production ramp-ups across its factories, Mahindra has sharply reduced waiting periods for its SUVs. From a monthly capacity of 19,000 units at the close of FY20, Mahindra steadily increased output to 39,000 units (469,000 annually) by FY23 and further to 49,000 units (588,000 annually) by FY24. The company is now targeting a production capacity of 64,000 units per month (768,000 annually) for FY25, with plans to reach 72,000 units monthly (864,000 annually) by the end of FY26.

Jejurikar added that the company aims to grow at mid-high teens numbers, which is faster than the industry's growth. "In the coming months, we’ll assess the need to expand ICE capacity, given our exports to South Africa and new markets have received a very positive response," he said. 

M&M had earlier said that there will be some level of fungibility between the Thar Roxx and the Thar 3-door, totalling about 9.5 thousand units per month. "We're going to improve that fungibility. By January, we'll increase the number 9.5 thousand by a couple of thousands and then we will look beyond that," Jejurikar added.