Cape Town: Home-grown auto major Mahindra & Mahindra is eyeing global markets with new products, concepts and technology to crack into the new markets as well as scale the existing global markets with current products.
With an aim to become dominant global player, the largest SUV manufacturer for the last five consecutive quarters plans to enter markets like Europe and UK with its born electric cars and also crack into South Africa, South & Central America and ASEAN market with its global pick up truck, the company said at the unveil of the global concepts of lifestyle Pick-up truck and Thar.e
According to the company, the global mid-size pik-ups is a 2 million unit market globally. To further expand the market the SUV maker is planning to launch lifestyle pick-ups in left-hand drive (LHD) markets such as the UK and Europe.
Veejay Nakra, CEO (Automotive Divisions), Mahindra & Mahindra said, in the case of global pickup, as we we are engineering the product, we are creating the product by understanding the needs not just in the Indian market, we are understanding the needs of the product customer application simultaneously in international markets like South and Central America, South Africa, Australia and Indian.
He added, at the moment, we are trying to understand the potential in each of these markets to take that back into a launch strategy from a truly global launch. So it is not a product that you will launch in India followed by other markets, you might do a simultaneous launch, but it’s a product being created for multiple markets today.
Phase I: Scale Business in Existing Markets with new and existing products
Nakra pointed out while charting out the global expansion plans that we could be in that market, but we could be playing a very small game, it could be at a 1-2%. But with these products, we will target a much higher market share, which itself is a very significant part of global strategy.
I just want to put it in the context of global strategy, not just about new products into new markets.
“There is a large market where we are currently present in, we want to go and get respectable market share in those markets,” he added.
Phase II: New Products Tapping Into the New Markets
In the phase II of its global expansion strategy, Mahindra Electric Automobiles Limited (MEAL), a subsidiary of Mahindra & Mahindra is readying four new BEVs (born electric vehicles) which will be launched phased wise -XUV.e8 (December 2024), XUV.e9 (April 2025), BE.05 (October 25) and BE.07 (April 2026). Moreover, the company plans to convert all its ICE SUVs to electric avatars in the long term.
“BEVs are an integral part of our strategy. I think there are some markets, we don’t even have a presence, but we believe we would want to have our presence through a range of EV products.” Nakra added.
Technology Powerplay: INGLO Electric Powertrain, tie-up with global players
MEAL has tied-up with global car manufacturer Volkswagen and global supplier Valeo for three different powertrain – low performance front powertrain that churn 80 kw power and 135 Nm of torque, mid range rear powertrain that churns out 170 Kw and 380 Nm and high performance rear powertrain that churns out 210 kw of power and 535 Nm of of torque
It has also tied-up with Dolby Atmos and Harmon Kardon for its sonic identity for a new range of BEVs. The sonic identity comprises 75 unique sounds including interior and exterior drive sounds, experience zone modes, infotainment cues, and functional signals such as seat-belt alerts and turn indicators. The company has roped in music director AR Rahman to create the sonic identity.
In order to scale the electric vehicle business, the company will cumulatively spend INR 10,000 crore in its Pune EV plant with a capacity of 2,00,000 units to develop BEVs and batteries.
Mahindra expects electric models to contribute up to 30% of its total SUV sales by March 2027.
(Disclaimer: The reporter was in Cape Town, South Africa to attend the global conference of Mahindra & Mahindra.)
