Mahindra Bets on EV Boom, Targets Doubling SUV Capacity by FY31.

Mahindra & Mahindra plans to nearly double its monthly SUV production capacity to around 1.32 lakh units by FY31 from about 72,000 units at present, as India's largest SUV maker ramps up investments to meet sustained demand for its expanding electric vehicle (EV) portfolio and support its export growth ambitions.

The capacity expansion will be executed in phases through debottlenecking at existing manufacturing facilities, an expansion of its Chakan plant, and a new manufacturing facility at Nagpur. The company is pressing ahead with the investment despite elevated commodity costs, which management expects will continue to weigh on input costs through the September quarter.

Mahindra said it remains confident that demand for its SUVs and electric vehicles will remain robust over the coming years. As part of the phased expansion, the company will first increase monthly SUV production capacity to around 82,000 units through debottlenecking initiatives. This will be followed by an expansion at its Chakan facility, taking monthly capacity to about 92,000 units.

Subsequent capacity additions, including the upcoming Nagpur plant, will raise total monthly SUV production capacity to approximately 1.32 lakh units by FY31, positioning the automaker to cater to rising domestic demand while strengthening its export footprint.