Wonderful Mahindra and Mahindra: The national automobile company Mahindra & Mahindra announced on Tuesday that it plans to introduce 16 electric vehicles (EVs) in the SUV and LCB category by 2027. With this, the company wants to strengthen its position in the electric mobility segment in India. . The company has set itself a target of 15-20% growth in total revenue by 2025.
3000 crores to invest in electric vehicles
The company has left open the possibility of either bringing in private investors or diversifying its electric vehicle business into a separate entity to accelerate its growth. Mahindra & Mahindra (M&M) has already announced its intention to invest 3,000 crore rupees in electric vehicles- Wonderful news.
Let us tell you that the company is considering a new brand name for the electric SUV, which it will introduce by 2027. Rajesh Jejurikar, executive director of M&M said: “In the SUV segment, we are planning to introduce 13 new models by 2027, eight of which will be electric.
Will introduce 4 new SUVs in 2027
In addition, he said that we believe that by 2027 at least 20% of our total UV (commercial vehicle) will be electric vehicles. “The company can introduce four new electric SUVs between 2025 and 2027.
Results published today
Mahindra & Mahindra reported profit of approximately 8 times the company’s profit in the quarter ended September 30. After this increase, the company’s profit increased to Rs 1,432 crore. The company gave information about it on Tuesday.
Profit of Rs 162 crore
The Mumbai-based company posted a one-time profit of Rs 162 crore in the July-September period of last fiscal year. M&M told the exchange that the company’s revenue rose 15% to Rs 13,305 crore in the second quarter, from Rs 11,590 crore a year ago.