Mahindra to switch focus to just SUVs and EVs

Mahindra & Mahindra will reportedly refocus its business to concentrate on rolling out more SUVs and a new family of pure-electric vehicles in an effort to become more profitable and establish itself as a global brand.

According to Mahindra's deputy MD, Anish Shah, in an interview with Reuters, the time has come to develop large SUVs for the Indian market before moving on to launch a full range of pure-electric vehicles.

Shah's comments come in the wake of the announcement that Ford and Mahindra have abandoned joint-venture plans to develop models that would be sold under both brands around the globe in emerging markets.

Back in 2019, the first vehicles to be spun off from the alliance was supposed to be three new SUVs that would carry Ford badges.

At the time, the Blue Oval said it would help the Indian car-maker develop low-cost electric vehicles specifically for emerging markets.

COVID-19 and the resulting devastating effect on global economic and business conditions were among the key issues for the breakdown of the joint venture.

It's thought that Mahindra will leverage its investment in the hypercar brand Pininfarina for its EV expertise and develop a new pure-electric architecture to underpin a family of SUVs and, potentially, a battery-powered pick-up.

"We are going to look ahead at how we can accelerate our investment in electric and really start moving to the new age. We clearly hold the ambition to be a global brand and there again the electric journey is an important one,” stated Shah.

Despite the joint venture misfire, Shah said Mahindra remained open to collaborating with the Blue Oval in the future.

As well as producing more SUVs, Mahindra is planning to ditch South Korean car-maker SsangYong that is haemorrhaging cash and was recently placed in receivership.

Mahindra has already announced that it is close to agreeing a deal with a potential investor for a majority stake in SsangYong.

Before COVID-19 took hold, Mahindra sold close to 190,000 vehicles in India in the fiscal year that ended March 31, 2020, giving it a respectable seven per cent market share.