Mahindra targets Europe, UK with global pick-up, eyes double-digit share in key exports markets
Cape Town: Homegrown automaker Mahindra & Mahindra is looking to tap the 2-million unit market for mid-sized pick-ups with a new global lifestyle pick-up truck that will first be launched in its key existing export markets including South Africa, Australia and New Zealand, Africa, the Middle East and South & Central America, the company announced during its global concept showcase in Cape Town on Tuesday. Mahindra is aspiring to snag a double-digit market share in these countries, where it has a rapidly growing presence, albeit with a single-digit share in the respective markets.
As part of its global expansion strategy, the SUV-maker will also look to launch the lifestyle pick-ups in left-hand drive markets such as the European Union and the United Kingdom. The product will also be brought to India, although the company did not share a timeline for a market launch.
The pick-ups, when launched, will be manufactured in some of Mahindra's international assembly plants, such as in South Africa and Australia, where it already produces itself variants of the Scorpio pick-up truck. The company also laid out its strategy to build its electric vehicle brand, announcing a decision to unify its two electric vehicle brands, ie XUV.e and BE, as well a future born EVs like the Thar.e and Scorpio.e into a single brand identity, with a new logo.
Meanwhile, its electric SUV factory in Chakan, Pune, will become operational by the end of 2024, when it will launch its first born EV, the XUV.e8. The factory will be able to produce 200,000 units of electric SUVs by 2027, the company said.
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