Mahindra Eyeing New Factory In Maharashtra With Multi-Energy SUV Platform

Mahindra aims to manufacture one million units annually by 2030. Sources say that the company is looking for a new piece of land for an upcoming factory that will house its most ambitious future multi-energy platform. Mahindra’s current annual capacity is 8 lakh units
with multi-energy models having an annual volume of 3 lakh units. The company is eyeing land parcels around Chakan, Aurangabad.

With the current SUV range including the Bolero, Scorpio, Thar, XUV and the upcoming model, Mahindra has the vision to maximise the existing capacities at its Chakan and Nashik facilities. Their combined capacity is about 8 lakh units, and with the all-new future product-range, it will need more capacity.

The future multi-energy architecture is expected to produce a dozen models, and the combined volume potential from the new platform ranges from 3 lakh units to half a million units per annum. The existing facilities cannot accommodate more models. The company would like to acquire land parcels in and around Chakan; alternatively, it is keen on locations about halfway between Pune and Aurangabad to ensure it remains in and around the automotive belt to retain a logistical cost advantage.

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Mahindra has already expanded its manufacturing capacity from 30,000 units a month in 2022 to 49,000 units at present in a short span of 24-36 months and announced that it aims to reach 64,000 units per annum by the end of the current financial year, which will further increase to 72,000 units by the end of FY26, thereby taking the overall capacity to 8.64 lakh units.

The company is believed to have been interested in General Motors’ Talegaon facility, which was eventually acquired by South Korean carmaker Hyundai Motor India. In a slowing market, M&M has already guided for mid-to-high teens growth backed by its new launches like the 3XO and Thar Roxx. If the company manages to attain its target, it will cross the half-million-unit sales milestone for the first time this financial year.

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Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.