Mahindra and Mahindra announced its financial results for the fourth quarter of FY2021. The auto major registered a net profit of Rs. 163 crore recovering from a loss of Rs. 3,255 crore recorded in the same quarter a year ago. Apart from the financial results, Mahindra also provided an insight into its future plans for automotive business. One announcement in particular was quite important. Mahindra said that it will launch nine new vehicles in India by the end of 2026.
Also Read: Mahindra Registers Net Profit Of Rs. 163 Crore In Q4 FY2021
(The new-gen Mahindra Scorpio will feature 2.0 litre petrol and diesel engines)
The new-generation Scorpio will be launched in FY2022 along with the XUV700. While the 5-door Thar and the all-new Bolero will be launched between FY2023 and FY2026. All new models launched FY2023 onwards will have an electrified option. In fact, the all-new XUV700 will have an electrified variant as well. Although the timeline on that is not clear yet, mostly to be launched after 2023! FY2025-26 will see the launch of two new battery electric vehicles, based on the Born EV platform.
Also Read: Mahindra Extends Warranty And Free Service Till July 31, 2021
(Mahindra Thar to get a 5-door variant. Confirmed!)
Other models in the pipeline include the W620 and the V201 along with the all-new XUV300. All these models will be launched between FY2024-26. In fact, the new-gen XUV300 will get an electrified variant as well. So, to sum it up, Mahindra will launch three new SUVs with a ladder-on-frame platform, four new models which will employ two different types of monocoque platform and the two BEVs, which we already mentioned.
Also Read: Mahindra Creates Task Force For Cyclone Yaas
(The upcoming Mahindra XUV700 will be launched this year itself)
The company also announced that it will invest Rs. 9,000 crore in the auto business between FY2022 and FY2024. About Rs. 6,000 crore will be allocated towards ICE automotive business and Rs. 3,000 crore towards electric vehicles.
