On November 27, Mahindra & Mahindra (M&M) expanded its electric vehicle portfolio with the launch of the XEV 9S, its first seven-seater electric SUV, aimed at Indian buyers seeking extra seating capacity. In an interview with Moneycontrol, Nalinikanth Gollagunta, CEO of M&M’s automotive division and Executive Director at Mahindra Electric, highlighted that continuously introducing new EV models will gradually increase adoption among consumers.
Asked about funding needs, Gollagunta noted that impact investors like BII and Temasek, who have invested ₹3,050 crore, validate the company’s products and vision. On profitability, he affirmed that the EV business is progressing as projected, with no negative surprises.
Regarding the electric Thar, he explained that the concept shown in South Africa has evolved, with the NU IQ products showcased in August 2025 reflecting a platform adaptable for both ICE and EV models.
Exports have begun in small batches, targeting right-hand drive markets like Nepal, South Africa, Australia, and the UK. On range extender EVs, Gollagunta emphasized that M&M remains committed to full EV technology, following government policy, with no plans to adopt REEVs for now.
