India’s second-largest automaker, Mahindra & Mahindra (M&M), is accelerating its international expansion by leveraging electric vehicles (EVs) and a new lineup of pickup trucks, capitalizing on its robust domestic performance amid intense competition.
Rajesh Jejurikar, Executive Director and CEO of the Auto and Farm segments at Mahindra & Mahindra, outlined the company’s ambitions in a recent interview with Nikkei Asia. He highlighted strong home-market momentum as a springboard for overseas growth, with initial targets including South Africa, Australia, New Zealand, and the UK within the next two years.
Mahindra has solidified its position as a major player in India’s SUV segment, particularly with popular models like the Scorpio-N and Thar. This success, achieved despite competition from established rivals, has given the company confidence to export its expertise and products globally.
asia.nikkei.comThe company is investing heavily in its electric vehicle portfolio, including “born-electric” models designed from the ground up. Recent launches like the XEV 9S seven-seater electric SUV underscore Mahindra’s push to capture a larger share of India’s growing EV market, with goals of EVs comprising at least 20% of its SUV sales by 2027.
Jejurikar emphasized a dual strategy: rolling out advanced EVs tailored for international markets and introducing pickup trucks suited for both personal and commercial use. Mahindra is developing a global pickup platform, potentially based on the Scorpio-N architecture, to compete with established players like the Toyota Hilux and Isuzu D-Max in key markets.
These efforts build on earlier concepts, such as the Vision Thar.e (an electric off-roader) and the Global Pik-Up, which were previewed to signal Mahindra’s intent for rugged, capable vehicles in international markets
Target regions align with where Mahindra already has a footprint in internal combustion engine (ICE) vehicles. South Africa, Australia, and Chile are seen as natural entry points for EVs due to existing customer loyalty for Mahindra SUVs and pickups. Further expansion into Europe (including the UK via potential trade agreements), Southeast Asia, and eventually the U.S. is on the horizon.
To support this growth, Mahindra is ramping up production capacity for both ICE and electric models. Plans include significant investments in new EV platforms and increasing monthly output. The company is also exploring localization of key components, such as batteries, to improve competitiveness and meet varying regional regulations.
Group CEO Anish Shah has echoed these sentiments in broader discussions, noting phased international rollouts starting with strongholds before venturing into more competitive markets like Europe and North America.
While Mahindra’s off-road heritage and value-for-money positioning give it an edge in emerging and utility-focused markets, success will depend on navigating tariffs, infrastructure readiness for EVs, and competition from global giants. The company’s focus on rugged, adventure-oriented vehicles could differentiate it in segments where practicality and capability matter most.
While Mahindra’s off-road heritage and value-for-money positioning give it an edge in emerging and utility-focused markets, success will depend on navigating tariffs, infrastructure readiness for EVs, and competition from global giants. The company’s focus on rugged, adventure-oriented vehicles could differentiate it in segments where practicality and capability matter most
Analysts see potential for Mahindra to carve out a niche similar to how Indian two-wheeler and tractor makers have succeeded abroad—through affordable, durable products adapted to local needs.As Mahindra transitions from a dominant Indian player to a global contender, its bet on EVs and pickups could define the next chapter of its automotive journey. With exports potentially starting as early as 2028 in select markets, the coming years will test the scalability of its vision.
