Mahindra's international playbook: Automaker targets Europe, U.S. with its EVs

The SUV major Mahindra & Mahindra (M&M) is preparing for global expansion by rolling out its electric SUVs across Europe and the U.S. in a phased manner.

Leveraging the proposed free trade agreement (FTA), the company plans to begin exports to the UK, followed by other European markets and Southeast Asia, before eventually entering the U.S., according to Anish Shah, MD and CEO, Mahindra Group.

“The products we currently have in South Africa and Australia are doing well on the ICE side. We haven’t introduced our EVs there yet. We have a strong lineup of EVs which we will take international,” Shah told Fortune India.

This strategy reflects Mahindra’s ambition to become a global EV player while strengthening its domestic foundation in internal combustion engine (ICE) SUVs. Shah noted that the company’s global plan mirrors its domestic playbook—prioritising select markets, executing with precision, and then scaling up. “Think big, do less, execute flawlessly,” he said, adding that Mahindra will focus on a few critical markets first, establish its leadership, and expand further.

Mahindra’s first international EV destinations will be regions where its ICE portfolio is already strong—South Africa, Australia, and Chile—where the brand enjoys a loyal SUV and pickup customer base. Among new regions, the UK is expected to be a key market, backed by the India–UK FTA. Once established, the company will expand into continental Europe, Southeast Asia, and finally, the US, in a phased rollout.

The automaker is confident that its upcoming EVs are globally competitive. Mahindra recently unveiled its born-electric SUVs—XEV 9e and BE 6—offering real-world ranges of over 500 km, surpassing global averages. The models also support ultra-fast charging, reaching 80% capacity (around 400 km of range) in just 20 minutes.

With EV adoption far ahead in global markets compared to India—some nearing 95% penetration—Mahindra is optimistic about its international prospects. While challenges remain, particularly in charging infrastructure, the company is banking on advances in global charging networks, battery technology, and consumer acceptance to drive demand. “As infrastructure expands, EV adoption will only grow. ICE vehicles will also stay. We are building a strong portfolio of ICE and EV products to compete in India and abroad,” Shah added.

Importantly, Mahindra does not plan to phase out ICE models. Instead, it aims to maintain a dual portfolio, recognising that petrol and diesel vehicles will continue to hold relevance in several markets.

Analysts believe Mahindra’s decision to enter EV-friendly markets first is strategically sound. The company already enjoys strong brand recognition in South Africa and Australia, particularly for rugged SUVs and utility vehicles. However, success in the UK and Europe will depend on meeting strict regulations and catering to demanding EV consumers.

The world’s most competitive auto market, the US represents the final phase of Mahindra’s international push. Earlier attempts to enter North America saw limited traction, but the company views rising EV demand as a fresh opportunity. With global interest in EVs surging, Mahindra is positioning itself as a versatile automaker offering both electric and conventional vehicles across continents—aligning with the industry’s broader sustainability shift.

Mahindra also sees pricing as a major differentiator. In Mumbai, the XEV 9e is priced at ₹22.96–32.99 lakh, while the BE 6 ranges from ₹19.85–30.04 lakh. By contrast, Tesla’s Model Y, priced at around $37,490 (about ₹32 lakh) in the US, crosses ₹61 lakh in Mumbai after import duties.

Beyond passenger EVs, Mahindra is developing a global pickup truck catering to both personal and commercial needs. The company also sees significant potential in electric three-wheelers to address urban mobility challenges in emerging markets.