Mumbai-headquartered automotive major Mahindra & Mahindra (M&M) has signalled a bold new chapter in its global expansion, detailing plans for electric vehicle (EV) exports and significant production scaling following a ‘defining year’ of financial growth.

The Mumbai-based conglomerate reported a stellar performance for FY2026, with consolidated Profit After Tax (PAT) reaching INR 170.99 billion, a 35 percent increase over the previous year. Consolidated revenue for the year surged 25 percent to reach INR 1,986 billion, 25 percent YoY.

During the year, the company reported sales of 1.11 million units, up 19 percent, while tractor sales grew by 24 percent at 526,403 units.

Central to the company’s future is a phased entry into international EV markets. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), told Motoring Trends, that Mahindra has planned a disciplined roadmap for global expansion.

"For exports, we would look at right-hand-drive markets in the world first. If we succeed there, then we will look at left-hand-drive markets". The company expects to begin seeing Mahindra EVs in a couple of new countries within the next 18 months.

Addressing potential competition from new Free Trade Agreements (FTAs), Dr Anish Shah, Group CEO & MD, Mahindra & Mahindra remains confident. He acknowledged that the government has structured FTAs to encourage local manufacturing. "We have already seen a lot of competition in the auto industry already and all the top players are here as well. FTA doesn’t change anything from that standpoint. It is important to emphasise that the government has done it (FTAs) very well to make sure that other players continue to make in India as well for the Indian market and to be able to export from around India. In that sense, they (automakers) have it set up well, and that should benefit the Indian government," Shah remarked.

New product launches & Capacity enhancement

Furthermore, the Mahindra management acknowledges that there has been a gap between demand and supply, especially for its new range of electric vehicles, which is why it is ramping up and unlocking capacities to meet the consumer demand.

It has already enhanced its SUV ICE capacity from 54,000 units per month to 56,500 units per month at the end of FY2026, with plans to scale it up to 60,000 units.

Similarly, for battery electric vehicles, it has enhanced the capacity from 5,000 units a month at the end of FY2025, to 8,000 units per month by 31, March 2026.

Furthermore, to support the potential EV uptick growth, Mahindra is aggressively expanding its manufacturing footprint. The company is in the process of land acquisition for its Nagpur facility, which is intended to eventually take capacity up to 500,000 units per annum.

Going forward, it has revised its earlier plans to launch 4 new ICE SUVs and 3 new electric vehicles by 2031, to 10 new ICE SUVs and 6 new BEVs by 2031. This includes 1 new mid-cycle enhancement and 9 new SUV nameplates in the ICE category.

In the EV segment, Mahindra is targeting an 18-20 percent penetration rate over a five-year period. Monthly production for the popular XEV 9S model is slated to rise from 6,000 to 8,000 units this year, with plans to reach a total EV capacity of 12,000 to 14,000 units per month as they enter FY2028.

When questioned on how Mahindra will compete with new entrants, Jejurikar pointed to ‘design and the tech’ as primary differentiators. He highlighted their unique seven-seater EV offerings and long-range capabilities (450-500+ km) as key advantages that ‘reduce charging rate’ anxiety for customers.

Market Leadership and Financial Resilience

The company’s traditional strongholds continue to dominate the Indian market. Mahindra remains No. 1 in SUVs with a revenue market share of 25.3 percent, No. 1 in Light Commercial Vehicles (LCVs) and No. 1 in Tractors with a 43.6 percent market share.

"FY26 has been a defining year marked by strong execution and breakthrough performance," said Dr Anish Shah. He emphasised that the Group is ‘well poised to accelerate in these uncertain times,’ supported by a strong balance sheet and a net cash generation exceeding INR 1,600 billion.

FY2027 outlook

Despite global ‘geopolitical headwinds,’ the company maintains a disciplined approach to capital allocation, focusing on high-growth ‘Growth Gems’ and exiting non-performing international farm businesses to ensure a 20.1 percent Return on Equity (RoE).

It expects FY2027 to see the tractor sales to grow in mid-single digits, while SUVs will see mid to high teen growth. Mahindra's aim is to focus on ramping up manufacturing capacity to meet volume growth aspirations.

On the LCV (upto 3.5-tonne segment), where Mahindra holds the lion’s or 52 percent market share, it expects the industry growth volumes to come in high single digits.

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German material manufacturer Covestro has partnered with automotive major BMW, tier 1 supplier FORVIA HELLA, and academic research institutions to launch KOLLEKT, a project focused on developing recyclable automotive lighting and electronic components.

Funded by the German Federal Ministry for Research, Technology and Space (BMFTR) with EUR 4.371 million under the CircularGlowUp framework, the three-year initiative runs from June 2026 to May 2029.

The consortium led by coordinator FORVIA HELLA, includes BMW, Covestro, Geba, SW Maschinenservice, Fraunhofer IEM, Fraunhofer UMSICHT, the University of Paderborn, Hamm-Lippstadt University of Applied Sciences and the Helmholtz-Zentrum Dresden-Rossendorf. The initiative addresses vehicle recyclability, resource consumption and end-of-life material recovery in light of the EU End-of-Life Vehicles regulation.

The project focuses on product design optimised for repair, reuse, remanufacturing and recycling. Covestro contributes its expertise in polycarbonate materials, including its Makrolon, Bayblend and Apec product lines, to evaluate recycling pathways and material properties from the initial design phase.

Monique Buch, Chief Commercial Officer, Covestro, said, “KOLLEKT is a prime example of how we create value together with our customers and partners — going beyond material supply to co-designing solutions from the very beginning. By aligning early across the value chain with BMW, FORVIA HELLA and other partners, we can embed circularity directly into product development. That is what true co-creation looks like—and how we turn sustainability ambitions into tangible outcomes.”

Technological developments within the project include an artificial intelligence-driven robotic dismantling unit. Utilising digital product twins and real-time data processing, the unit aims to enable automated, material-pure disassembly at an industrial scale.

The initiative builds on the predecessor project NALYSES, which concluded in 2026. Project outcomes are intended to support compliance with EU ELV recycling targets through 2032 and assist vehicle manufacturers in meeting post-consumer recycled content quotas.

Guido Naberfeld, Head of Sales and Market Development Mobility, Covestro, stated, “KOLLEKT is a concrete step toward closing the loop on high-performance polycarbonate in automotive applications. By combining Design for Circularity with advanced recycling technologies and digital traceability, we are demonstrating that sustainability and material performance are not a trade-off. This is how Covestro contributes to meeting the EU's ELV targets and helps the entire automotive value chain transition to a truly circular model.”

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Mumbai-headquartered automotive major Mahindra Group has announced the appointment of Shveta Arya as its new Group Chief Strategy Officer, effective 15 September 2026. Arya will also join the senior management team of Mahindra & Mahindra and serve on the Group Executive Board.

In her new role, Arya will oversee the Group Strategy Office across the organisation's portfolio of businesses to determine growth opportunities and value creation. She will report directly to Dr. Anish Shah, Group CEO & MD of Mahindra Group.

Dr. Anish Shah said, “We are pleased to welcome Shveta Arya as Group Chief Strategy Officer. Shveta brings over two decades of leadership experience across business and strategy, as well as management consulting across diverse sectors. Her experience in driving growth, shaping strategy and leading through change will be valuable as we work with our portfolio of businesses to drive growth and create long-term value across our portfolio of businesses. Her passion for constructive change and holistic progress also resonates strongly with Mahindra’s purpose. I wish her the very best in this key leadership role.”

She comes with over 23 years of experience across publicly listed multinational organisations and management consulting. Her background spans the automotive, travel, financial services and telecom sectors.

Most recently, Arya served as Managing Director of Cummins India, where she managed operations, growth strategy, talent and workplace culture. She was also the program sponsor for Cummins' initiative focused on women and girls in India. Prior to Cummins, she led Strategy and M&A at Thomas Cook India and held roles at Kearney and Infosys.

Arya holds a Master of Business Administration from the Indian Institute of Management Ahmedabad and a Bachelor of Engineering in Information Technology from Delhi University.

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Envalior India Pvt. Ltd. has launched a specialised training hub focused on electric vehicle technology at MM Polytechnic in Pune, marking a significant step in aligning vocational education with the demands of the burgeoning EV sector. The Envalior Centre of Excellence, a product of the company’s CSR initiatives in partnership with the BroadArks Foundation, is intended to serve as a practical workshop where students can transition from theoretical knowledge to applied technical competence.

The facility was formally inaugurated by Christopher Stillings, Vice President –R&D, in the presence of Krijn Dijkstra, Nileshkumar Kukalyekar, Uday Shetty, Susmita Mishra, Hema Rani, Sainath Vaidya and Aniket Nirwan of Envalior, MM Polytechnic leadership and other dignitaries. By embedding this centre within a technical campus, the programme seeks to immerse learners in the realities of EV maintenance and repair, covering not just mechanical functions but also the intricate electrical and software-driven systems that define modern vehicles.

With an annual capacity to reach roughly 250 learners, the centre will cater to students from ITI and polytechnic backgrounds across multiple engineering streams. The coursework is divided into two progressive phases, starting with a foundational module that introduces participants to basic EV architecture, battery safety and routine service procedures. An advanced tier follows, offering deeper instruction on battery management systems, thermal controls, high-voltage safety protocols, motor controllers and complex diagnostic methods.

Beyond traditional lectures, the training environment incorporates interactive lab sessions with real vehicle components, diagnostic tools and industry-relevant projects, ensuring that participants acquire both safety awareness and problem-solving agility. The overarching goal is to produce graduates who are not merely familiar with EV theory but are confident in executing hands-on repairs and system evaluations. Through this scalable framework, Envalior is actively working to narrow the skills gap in India’s automotive sector, creating a direct pipeline of capable talent for the evolving mobility landscape.

Nileshkumar Kukalyekar, Business Director – South Asia, Middle East & Africa, Envalior, said, “The transition to electric mobility is creating a fundamental shift in the skills expected from the automotive workforce. For us, this Centre of Excellence is about ensuring that technical education keeps pace with that change. By giving students the opportunity to work directly with EV systems, understand advanced diagnostics and build capabilities through structured, certified training, we are helping create a stronger bridge between what young technicians learn and what the industry will increasingly expect from them. We see this as an investment not only in individual careers but in the technical talent that will support India’s mobility transition in the years ahead.”

Christophe Stillings, Vice President – R&D, Envalior, said, "At Envalior, we believe the future of mobility depends on developing industry-ready talent today. Through the Centre of Excellence, students will gain hands-on exposure to EV technologies, helping bridge the gap between academic learning and real-world industry requirements. By bringing together academia and industry expertise, we aim to equip the next generation of engineers with the practical skills, confidence and innovation mindset needed to succeed in a rapidly evolving automotive landscape."

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Tier 1 automotive supplier Schaeffler India has appointed Amit Bhalerao as its Chief Operating Officer, effective 10 August 2026.

In his new role, Bhalerao will oversee the company's manufacturing operations across India. His responsibilities include directing manufacturing strategy, operational performance, digitalisation projects and capability development, as well as managing local production initiatives across the firm's plant network.

Bhalerao will join Schaeffler India's Executive Leadership Team, collaborating with divisional heads to manage the company's operational footprint.

Harsha Kadam, Managing Director and CEO, Schaeffler India, said, "India continues to be a strategic growth market for Schaeffler, and strengthening our manufacturing and operations capabilities is central to our journey as the leading Motion Technology Company. Amit brings extensive experience in leading complex manufacturing operations, driving operational excellence and building high-performing teams. His leadership will further enhance our manufacturing competitiveness, customer focus and innovation capabilities as we continue delivering greater value to our customers and stakeholders. We wish Amit the very best and many successes in his journey at Schaeffler in India."

Bhalerao comes with 23 years of management experience in manufacturing, operations, lean transformation, quality assurance and supply chain management. Before joining Schaeffler India, he held the positions of Managing Director and Vice-President of Operations at Kelvion India, where he managed operations, technology transfer and capacity expansion projects. He has also held leadership positions at Cummins, Eaton and Sterlite Technologies.

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