Mahindra plans to make EV batteries locally in India

Mahindra Group is planning to manufacture electric vehicle (EV) batteries locally in India. Driven by the anticipated surge in demand for electric vehicles in the country.

Mahindra's MD and CEO Anish Shah emphasized the importance of domestic production to meet this demand. One area that Mahindra continues to look at more closely is cell manufacturing, and is therefore looking at a partnership.

Mahindra recognizes the importance of local battery cell production to meet the growing demand for EVs in India. This reduces reliance on imports and potentially improves cost efficiency. Mahindra is actively considering cell manufacturing as a way to secure its supply chain and potentially gain a competitive edge in the Indian EV market.

Mahindra is actively pursuing local battery production to strengthen its position in the electric vehicle (EV) market. The company's strategy involves exploring partnerships with global technology players and private equity investors to share the financial burden and leverage advanced technologies.

Mahindra was an early entrant in the Indian electric car market, but their offerings haven't kept pace with competitors like Tata Motors. Currently, Mahindra only offers one electric car model, the XUV400. This restricts their appeal to a broader customer base.

Mahindra plans to launch a series of new electric vehicle models starting January 2025. This product diversification can attract a wider range of customers and increase their market share.

Mahindra’s strategy to achieve local battery production through partnerships with global technology players and private equity investors represents a forward-thinking approach to enhancing its competitiveness in the EV market. As the company continues to implement this strategy, it stands to significantly benefit from increased market share, technological innovation, and sustainable growth.