Mumbai-headquartered automotive major Mahindra & Mahindra (M&M) has signalled a bold new chapter in its global expansion, detailing plans for electric vehicle (EV) exports and significant production scaling following a ‘defining year’ of financial growth.

The Mumbai-based conglomerate reported a stellar performance for FY2026, with consolidated Profit After Tax (PAT) reaching INR 170.99 billion, a 35 percent increase over the previous year. Consolidated revenue for the year surged 25 percent to reach INR 1,986 billion, 25 percent YoY.

During the year, the company reported sales of 1.11 million units, up 19 percent, while tractor sales grew by 24 percent at 526,403 units.

Central to the company’s future is a phased entry into international EV markets. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), told Motoring Trends, that Mahindra has planned a disciplined roadmap for global expansion.

"For exports, we would look at right-hand-drive markets in the world first. If we succeed there, then we will look at left-hand-drive markets". The company expects to begin seeing Mahindra EVs in a couple of new countries within the next 18 months.

Addressing potential competition from new Free Trade Agreements (FTAs), Dr Anish Shah, Group CEO & MD, Mahindra & Mahindra remains confident. He acknowledged that the government has structured FTAs to encourage local manufacturing. "We have already seen a lot of competition in the auto industry already and all the top players are here as well. FTA doesn’t change anything from that standpoint. It is important to emphasise that the government has done it (FTAs) very well to make sure that other players continue to make in India as well for the Indian market and to be able to export from around India. In that sense, they (automakers) have it set up well, and that should benefit the Indian government," Shah remarked.

New product launches & Capacity enhancement

Furthermore, the Mahindra management acknowledges that there has been a gap between demand and supply, especially for its new range of electric vehicles, which is why it is ramping up and unlocking capacities to meet the consumer demand.

It has already enhanced its SUV ICE capacity from 54,000 units per month to 56,500 units per month at the end of FY2026, with plans to scale it up to 60,000 units.

Similarly, for battery electric vehicles, it has enhanced the capacity from 5,000 units a month at the end of FY2025, to 8,000 units per month by 31, March 2026.

Furthermore, to support the potential EV uptick growth, Mahindra is aggressively expanding its manufacturing footprint. The company is in the process of land acquisition for its Nagpur facility, which is intended to eventually take capacity up to 500,000 units per annum.

Going forward, it has revised its earlier plans to launch 4 new ICE SUVs and 3 new electric vehicles by 2031, to 10 new ICE SUVs and 6 new BEVs by 2031. This includes 1 new mid-cycle enhancement and 9 new SUV nameplates in the ICE category.

In the EV segment, Mahindra is targeting an 18-20 percent penetration rate over a five-year period. Monthly production for the popular XEV 9S model is slated to rise from 6,000 to 8,000 units this year, with plans to reach a total EV capacity of 12,000 to 14,000 units per month as they enter FY2028.

When questioned on how Mahindra will compete with new entrants, Jejurikar pointed to ‘design and the tech’ as primary differentiators. He highlighted their unique seven-seater EV offerings and long-range capabilities (450-500+ km) as key advantages that ‘reduce charging rate’ anxiety for customers.

Market Leadership and Financial Resilience

The company’s traditional strongholds continue to dominate the Indian market. Mahindra remains No. 1 in SUVs with a revenue market share of 25.3 percent, No. 1 in Light Commercial Vehicles (LCVs) and No. 1 in Tractors with a 43.6 percent market share.

"FY26 has been a defining year marked by strong execution and breakthrough performance," said Dr Anish Shah. He emphasised that the Group is ‘well poised to accelerate in these uncertain times,’ supported by a strong balance sheet and a net cash generation exceeding INR 1,600 billion.

FY2027 outlook

Despite global ‘geopolitical headwinds,’ the company maintains a disciplined approach to capital allocation, focusing on high-growth ‘Growth Gems’ and exiting non-performing international farm businesses to ensure a 20.1 percent Return on Equity (RoE).

It expects FY2027 to see the tractor sales to grow in mid-single digits, while SUVs will see mid to high teen growth. Mahindra's aim is to focus on ramping up manufacturing capacity to meet volume growth aspirations.

On the LCV (upto 3.5-tonne segment), where Mahindra holds the lion’s or 52 percent market share, it expects the industry growth volumes to come in high single digits.

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Tejas Cargo has added a Blue Energy electric heavy-duty trucks to its fleet. The e-trucks will cater to the needs of Dalmia Cement logistics requirements with an eye on reducing the carbon footprint. The deployment underlines the growing need of various industrial sectors such as cement, e-commerce etc. to reduce transportation-related emissions and build a more sustainable supply chain.
As businesses across different industrial sectors look beyond their manufacturing operations to reduce emissions, freight transportation is visited in terms of how it can contribute positively to Scope 3 norms. It makes an important area for action. 
This association between Blue Energy Motors and Tejas Cargo marks a new arrangement that is emerging in the logistics space where vehicle OEMs, logistics providers and end customers look at a sustainable and carbon footprint reducing means to transport the produce. To build an efficient supply chain that is robust and risk averse for the various shifts that are taking place. 
"The logistics sector is undergoing a significant transformation, and sustainable transportation will play a defining role in its future. We are pleased to deploy Blue Energy Motors' electric heavy-duty truck for Dalmia Cement's operations and look forward to contributing to the adoption of cleaner and more efficient freight solutions across the industry," said hander Bindal, Chairman & Managing Director, Tejas Cargo India Limited. 
Anand Mimani, CEO – EV & New Energy Business, Blue Energy Motors, said, "As India accelerates its transition towards a lower-carbon future, decarbonizing freight transportation will be critical to achieving meaningful emissions reductions. Electric heavy-duty trucks are increasingly proving their ability to deliver the performance, reliability and economics required for commercial operations. This deployment is a strong example of how clean mobility solutions can help industries reduce transportation-related emissions while advancing their broader sustainability ambitions."
 

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The Association of Indian Forging Industry (AIFI), the apex body of the Indian forging sector, hosted its 2nd Annual Conference on ‘New Development Trends – Impact on Forging Industry’. The event gathered leading stakeholders to discuss the evolving business environment, the China Plus One opportunity, technology and automation, productivity, manpower, rising input costs and the need for greater resilience and competitiveness.

Discussions stressed that the industry stands at a pivotal moment to strengthen its place in global value chains as companies diversify supply sources. However, it must move beyond traditional manufacturing models by investing in technology, automation, engineering, R&D, skilled manpower, productivity and sustainability. The consensus was that while India has the base, talent and market opportunity, forging firms must build capability to manage uncertainty and deliver higher-value solutions.

Chief Guest Thomas Dose, Managing Director, BMW Group Plant Chennai, highlighted India’s growing global relevance under the China Plus One strategy. He noted that geopolitical turbulence and single-supplier risks are pushing global companies to diversify, giving India a strong chance to become the preferred destination, with customers seeking greater engineering and end-to-end responsibility.

Sunil Javalekar, Chairman, Western Region, AIFI & CEO, S. B. Forgetech Pvt. Ltd., gave the welcome address. Yogesh Thakar, Executive Director, PwC, presented ‘Indian Forging Industry – Next Global Edge’. The memento presentation and vote of thanks were delivered by S Ravishankar, Vice President, AIFI & MD, Super Auto Forge Pvt. Ltd.

A panel on ‘Managing Uncertainty / Challenges to Capitalize on Demand Surge’ was moderated by S Ravishankar, with Vidyashankar Krishnan, CMD, M.M. Forgings Ltd.; Vikas Bajaj, MD, Bajaj Motors Ltd. and Sahil Jain, CEO, Hirschvogel Components India Private Limited. Discussions covered GST, manpower, automation, technology upgrades, investments, training, contingency planning, R&D, productivity, demand management and rising input costs.

The conference reinforced the industry’s significant opportunity as global supply chains evolve. AIFI continues to unite stakeholders, facilitate knowledge exchange and represent the forging fraternity, with a renewed commitment to competitiveness and growth in domestic and global markets.

Addressing the gathering, Yash Munot, President, AIFI & CEO, Varsha Forgings Pvt. Ltd., said, “The Indian forging industry is at an important juncture, with global supply-chain realignments creating significant opportunities for India. At the same time, we must remain prepared to navigate geopolitical uncertainty, rising input costs, technology disruption and changing customer requirements. Our focus must be on increasing productivity, accelerating technology adoption, developing our people and strengthening innovation and sustainability. The opportunity before the Indian forging industry is significant, but we must build the capabilities and competitiveness required to become a stronger and more valuable partner to global customers.”

Thomas Dose, Managing Director, BMW Group Plant Chennai, said, “We believe India should be the Plus One. India has engineering talent, a large market and a very capable forging industry. But China Plus One is not only about supply; we want to see much more partnership from India. Customers are looking for capable partners who can take responsibility, contribute to engineering and development and become part of the development process. India is no longer just a supply chain; Indian companies need to be part of our development. The challenge is to connect the capabilities that are already there, and AIFI has a major role to play in this.”

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Powered by JK Tyre, the Indian Racing Festival 2026 got off to a thrilling start at the Kari Motor Speedway (KMS) in Coimbatore, recently, with the opening round of the F4 Indian Championship delivering three action-packed races and a closely contested battle for the top honours. 
Aris Kyriakou emerged as the standout performer of the weekend, combining two runner-up finishes with a Race 3 victory to finish Round 1 with a dominant display.
With the opening round producing seven different drivers on the podium across the three races, the championship has already underlined the depth of competition on the grid. The F4 Indian Championship will now remain at Kari Motor Speedway for Round 2, giving the drivers another opportunity to challenge for crucial championship points at the same venue before the six-round season moves on to its other racing destinations.
South African Luviwe Sambudla stole the spotlight as the opener didn't unfold the way the grid sheet suggested it might. Sambudla, lining up eighth for Goa Aces JA Racing, tore through traffic almost immediately and had himself in podium contention within the first four opening laps in the first battle.
A mid-race safety car briefly closed up the field and threatened to undo his hard work, but it barely slowed him down as he crossed the line first in 31 minutes and 05.808 seconds, edging Kyriakou by 2.245 seconds, with pole-sitter Aaron Mehta rounding out the podium in third.
Before any of that unfolded, though, it was Mehta who'd already made headlines. The fifteen-year-old Singaporean, racing for Kolkata Royal Tigers, put in a lap of 1:05.652 to become the youngest driver ever to take pole in this championship's history. He couldn't quite hold that pace deep into the race, dropping to third as his tyres wore thin, but for a debutant barely out of his mid-teens, a podium finish is nothing to sniff at.
 
Aryan Narola's pole-to-flag drive made him the second-youngest race winner in series history
 Starting from pole in Race 2, Goa Aces JA Racing’s Aryan Narola fended off constant pressure from Kyriakou across the full 26-lap distance on the second day of the championship, eventually taking the flag just 0.624 seconds clear. Aris Kyriakou and Swarnav Das completed the podium behind them. The result makes Narola the second-youngest winner in the championship's history, a milestone which will be talked about in the lead-up to Round Two.
 
Race 3 belonged to Aris Kyriakou
Starting from pole for the third race running, Kyriakou didn't have things all his own way. He crossed the line first, but not before fending off relentless pressure from Mahlori Mabunda, who spent much of the race glued to his gearbox. Third went to Mehta, while Sambudla, the weekend's Race 1 winner, could only manage fourth this time round.
Mabunda displayed the pace to challenge for the win, but spent lap after lap fighting the effects of dirty air, the turbulent, disrupted airflow that trails a car ahead and robs the chasing driver of downforce through the corners.
Further back, the race delivered its share of chaos too. With the laps winding down, the leaders began lapping the rest of the field, sweeping up everyone from fourth to fourteenth during the final 90 seconds. Amid that scramble, Ntiyiso Mabunda came to a halt on track on the last lap, forcing race control to throw a yellow flag. The timing worked out well for Mehta, who'd been running fourth behind Kyriakou and the two South Africans, but Mabunda's misfortune opened the door, and he grabbed third as a result.
Round 1 threw up seven different names on the rostrum across its three races, but it's Kyriakou's name that stands tallest heading into the next stop. With the series set to return to the very same venue for its second round, all eyes will be on whether he can carry this form forward, or whether the chasing pack finally finds a way past.
 

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Thirty emerging technology fields will drive global economic growth over the next 15 years, with their total market value projected to expand from EUR 2.5 trillion to more than EUR 20 trillion by 2040 says a report by global consulting firm Roland Berger.

The research titled ‘The 2040 Technology Gameplan ’ finds that these sectors will account for 37 percent of global industrial value creation by 2040, up from 9 percent today.

The study identifies 14 core technology areas as critical for industrial growth, representing a market potential of EUR 16 trillion. Semiconductors, artificial intelligence (AI) systems and data centres are projected to constitute more than half of this total. Additional sectors highlighted include energy storage, quantum technologies and humanoid robotics.

Furthermore, the report points out that Europe could capture approximately 20 percent of the global market across these 14 primary technology sectors by 2040, equivalent to EUR 3 trillion in value creation. However, European industry has lost market share to the United States and China due to scaling constraints, capital limitations and institutional complexity.

To address these challenges, the analysis outlines three approaches tailored to specific technology fields: pursuing global leadership in areas such as quantum technology, medical technology, microgrids and carbon capture; leveraging domestic demand in sectors like autonomous defence, humanoid robotics and charging infrastructure; and attracting foreign technology providers to establish local operations for large language models and next-generation semiconductors.

Felix Mogge, Partner, Roland Berger, said, "Europe faces a clear mandate for action. Policymakers and industry leaders must work together to create the right conditions for investment and scaling. Otherwise, the value creation generated by the next wave of technology trends will take place elsewhere."

The study indicates that existing European regulatory frameworks, including the AI Act, the EU Battery Regulation, and the European Chips Act, have not fully achieved their targets. The findings call for EU-wide policies to support commercial scaling, capital availability, and industrial strategy across member states.

Stefan Riederle, Partner, Roland Berger, said, "Europe has the technologies and the talent to compete for global leadership in a number of fields. The challenge now is to choose the right strategy for each technology area and secure Europe’s long-term competitiveness."

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