Mahindra aims for 350-acre land purchase in Igatpuri
Mahindra & Mahindra Expands Automotive Ecosystem with 350-Acre Land Acquisition in Igatpuri
Mahindra & Mahindra, a leading Indian automotive manufacturer, has submitted a letter of interest for a 350-acre land parcel in Igatpuri, Maharashtra. The acquisition is part of the company's comprehensive strategy to boost production, enhance supplier ecosystems, and strengthen customer service infrastructure.
The land could potentially provide a feeder facility in close proximity to the existing Nashik and Igatpuri plants. While the land parcel is not directly related to the previously mentioned 350-acre land parcel, it is being considered for setting up a supplier park and expanding existing manufacturing facilities.
Rajesh Jejurikar, Executive Director and CEO of Mahindra & Mahindra, announced plans to develop a new greenfield manufacturing facility to supplement existing capacity, addressing the growing demand for SUVs and electric vehicles (EVs). This move aligns with Mahindra's growth in the SUV market share and expected volume growth of 15-20% in FY26.
The company aims to increase production to meet both domestic and international demand, with a target of achieving 10 lakh EV production capacity by 2027. To achieve this goal, Mahindra is investing over ₹27,000 crore in its automotive business between FY25 and FY27.
In addition to expanding production capacity, Mahindra is also focusing on improving customer experience in urban and rural areas. The company plans to increase its service outlets from the current 1,100 by 150-200 annually.
Mahindra's new SUVs, based on the NU platform, will be developed as global products. The company recently showcased four new Mahindra Vision concepts - Vision S, Vision X, Vision T, and Vision SXT - previewing future ICE and electric SUVs intended for left-hand drive markets.
The company is also exploring locations for an all-new greenfield facility to increase capacity beyond 2027. The increased production capacity at the Chakan plant will push Mahindra's overall production capacity to 7.5-7.6 lakh per year. The acquisition of the land is in its early stages and will go through a process of due diligence and land purchase approvals.
This strategic move by Mahindra & Mahindra reflects its commitment to expanding its automotive ecosystem and strengthening its position in the Indian and global automotive market.
[1] Business Standard [2] Financial Express [3] Autocar India [4] Money Control [5] Zee Business
Technology will play a significant role in the new greenfield manufacturing facility planned by Mahindra & Mahindra, as they aim to develop their new SUVs based on the NU platform as global products and increase production capacity for SUVs and electric vehicles (EVs). Mahindra is also planning to leverage technology to improve customer experience in urban and rural areas, potentially through digital platforms or advanced services.
