NEW DELHI: Mahindra & Mahindra will set Rs 17,000 crore during the next few decades, such as capex on brand new versions and partnerships in group companies apart from its own car and farm industry firms, a top company official said on Friday.
The business intends to establish complete 23 units in passenger vehicles department and light commercial vehicles (LCV) class by 2026 and 37 versions in the farm gear perpendicular under its Job K2 from 2024-25.
Addressing reporters at a digital earnings call summit, Mahindra Group Managing Director and CEO Anish Shah stated from the Rs 17,000 crore intended to be set up in the subsequent few decades, capital expenditure will be at Rs 12,000 crore.
It has Rs 6,000 crore for traditional automotive, Rs 3,000 crore for electric vehicles (EVs) totalling Rs 9,000 crore to its automotive industry.
Even though for your farm equipment industry, capex is currently at Rs 3,000 crore, he added.
“Hence a complete capex of Rs 12,000 crore (in 3 years).
The rest of the Rs 5,000 crore is investments in group companies in addition to the automobile and farm businesses,” Shah said.
Elaborating on the firm’s new products and stage approach, M&M Executive Director (Auto & Farm Sectors) Rajesh Jejurikar stated that the organization has been predicated on creating a distinguished, innovative and genuine SUV brand using innovative adventure-ready capacities.
“That is, we think, is the basis on which we intend to establish new products from 2026.
We’re planning to start 9 new goods by 2026 minding the programs,” he explained.
One of those, a fresh Scorpio version is likely in 2021-22.
The corporation’s new XUV700 has been defined to be started this calendar year, even though a five-door Thar and all-new Bolero are put to reach the marketplace involving 2023-26.
Between 2024-27, the business has proposed three new goods, such as SUVs code-named W620 and V201 alongside an all-new variation of its compact SUV XUV300, all which will have electrical powertrain choices.
Jejurikar further explained, the business intends to deliver 2’born electrical vehicles’ from 2025-26, that is pure drama EVs.
