M&M to invest Rs 15,300 cr to fortify position in auto, farm eqpt and EVs

Mahindra is eyeing a pole position in SUVs in volume terms - a place it held three years ago

Mahindra and Mahindra (M&M) will incur a capital expenditure of Rs 15,300 crore in the auto, farm equipment, and electric vehicle (EV) businesses over 2022-24, the firm said. Of this, it has already pumped in Rs 3,200 crore in FY22, while the remaining Rs 12,100 crore will be done during FY23 and FY24. This is significantly higher than the capex done by the company in the recent past.

Prior to FY21, it was pumping in Rs 3,000-4,000 crore annually. The pandemic, coupled with chip shortage, made the company defer the expenditure. M&M’s capex plans are in line with the trend