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Mahindra's Decade of Dominance: 8x SUV Growth Planned
20 Nov
Summary
- Mahindra plans for 8x growth in SUVs and LCVs by FY30.
- The company aims for one million electric vehicles on the road by 2031.
- Financial services targets 5x Asset Under Management growth by FY30.
Mahindra Group is charting an expansive decade-long roadmap, detailing ambitious growth forecasts across its diverse business verticals. Ahead of its investor day, the conglomerate revealed plans to achieve significant expansion in its automotive sector, projecting an eightfold increase in SUVs and light commercial vehicles by FY30. This strategic push aims to solidify its market position and drive overall group performance.
The company's commitment to electric mobility is underscored by a bold target of having one million Mahindra EVs operating by 2031, positioning itself as a leader in the burgeoning electric commercial vehicle market. Complementing this, the farm equipment division is set to experience substantial growth, driven by technological advancements and increased demand for higher-horsepower tractors.
Further strengthening its diversified portfolio, Mahindra's financial services arm is targeting a fivefold growth in Assets Under Management by FY30, focusing on under-penetrated rural markets. Tech Mahindra also expects to complete a significant business transformation by FY27, enhancing its profitability and AI-led service offerings, signaling a comprehensive strategy for future success.
