Mahindra & Mahindra (M&M), is aiming to boost revenue by growing its global footprint and extending its operations. The renewed push towards the international market would be directed by M&M’s refreshed portfolio of vehicles like the XUV700 and its upcoming new range of electric vehicles, as per reports.
M&M is fixated on a nearly threefold jump in revenue from international operations over the next two years and to increase it further, according to ET. “Our aim is to scale international operations revenue by 2.5x by FY26 and further onward,” Rajesh Jejurikar, executive director and chief executive (Automotive & Farm Equipment), M&M, told ET.
Mahindra currently exports vehicles to 30 countries across South Asia, Middle East and Africa, South Africa, Australia, New Zealand, and some left-hand drive markets in Latin America. The company’s recent launch was the XUV700 and Scorpio-N in Australia and New Zealand, adding to South Africa where these vehicles were launched last year. Mahindra is the fastest growing brand in South Africa, told Jejurikar to ET.
While the first wave of global expansion is being led by the XUV700 and the Scorpio-N, Mahindra unveiled a concept pickup truck in August 2023. As per Jejurikar, the concept has been designed keeping in mind key global markets for pickups.
Electric Vehicles (EV) also play a significant role for the Mumbai-based automaker. With EV, it aims to enter the European market with its upcoming Born Electric range. Mahindra recently partnered with Volkswagen to use components from the German automaker’s MEB platform for electric vehicles in its Inglo platform and create a global EV portfolio. Mahindra has also begun working with other global suppliers such as Bosch, Harman, Dolby, Qualcomm, NXP, Aptiv, Visteon, Valeo, Vitesco, Tenneco, HL Klemove, ZF, and Webasto to develop global products.