Mahindra to export EVs to UK in 18–24 months; targets double-digit growth in FY26
Mahindra & Mahindra projects mid-to-high teens growth in FY26, driven by service network expansion and global ambitions. The automaker will export EVs to the UK within 24 months, launch NU_IQ platform SUVs from 2027, and ensure festive season dealer readiness despite cess-related dispatch delays.
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Mahindra & Mahindra is preparing for an ambitious growth phase, with plans to strengthen its domestic service network and expand globally with electric vehicles. CNBC-TV18 reported, Nalinikanth Gollagunta, CEO of the company’s Automotive Division, expects “mid to high teens” growth in FY26, supported by a 15–20% expansion in its service footprint.
Central to this growth strategy is Mahindra’s NU_IQ modular, multi-energy platform, unveiled on Independence Day as part of its Global Vision 2027. Four design concepts — Vision.S, Vision.T, Vision.SXT, and Vision.X, were showcased, representing the company’s next-generation SUVs. These vehicles, designed in Mumbai and Banbury, UK, will enter production from 2027 for both Indian and international markets, including left and right-hand drive territories.
Mahindra is also preparing to enter the UK market within the next 18–24 months with exports of EVs and NU_IQ-based models, aiming to tap into new SUV segments that combine premium appeal with off-road capability. Production will be anchored at Mahindra’s Chakan facility, with an annual capacity of 1.2 lakh units.
On the domestic front, the company is navigating regulatory uncertainty around the cess component, which has temporarily halted wholesale dispatches since late August. Gollagunta said Mahindra will resume supplies to dealers after September 22 but is ensuring adequate stock for the upcoming Navratri season.
Securing the supply chain is another key priority. Mahindra has locked in its rare earth magnet requirements for Q2 and Q3 of FY26, a critical move as EV adoption accelerates globally.
