Mahindra & Mahindra (M&M) is set to introduce a new generation model of its iconic Bolero.
Despite a substantial commitment of over Rs 10,000 crore to its electric vehicle business, the automotive giant is reinforcing its internal combustion engine (ICE) portfolio for the coming decade.
According to reports, a detailed investment plan and product portfolio are expected to be revealed in the coming year. This move aims to underline the company’s commitment to balancing its focus on both electric and traditional automotive technologies, as per Motor Beam.
M&M is preparing to unveil the next generation of its enduring Bolero model in 2026, utilizing a cutting-edge architecture known as U171. This platform, anticipated to require an investment exceeding Rs 2,000 crore in the coming decade, is not only expected to breathe new life into the Bolero franchise but also serve as the foundation for a range of vehicles, including SUVs and pickup trucks.
Motor Beam reports that at least three SUVs are projected to be introduced on the U171 platform, with a potential volume of 1.5 lakh units annually. As the pickup range transitions to this new platform, the volume may even double, signalling a significant expansion in Mahindra’s product lineup.
Autocar’s report emphasizes the strategic importance of the U171 platform, stating, “This is a core platform that will help Mahindra protect its loyal customer base in the hinterlands and commercial vehicle buyers.” It added that the platform has consistently proven to be highly lucrative, surpassing projected volumes without much fanfare.
While urban buyers have been captivated by the XUVs, Thar and Scorpio models, the upcoming Bolero aspires to set new standards and revitalize its standing in smaller towns and cities.
The Bolero franchise, currently contributing 20 percent to Mahindra’s total sales, boasts an average of 8,000 to 9,000 units sold per month. The profitability of the Bolero lineup is expected to surpass its volumes, with pickup trucks on the Bolero platform securing Mahindra’s dominant share, exceeding 60 percent in the pickup truck segment.
Rajesh Jejurikar, the Executive Director and CEO of Mahindra & Mahindra reiterated the company’s commitment to the ICE segment during a recent analyst briefing. Despite the growing focus on electric vehicles, reports Autocar, Jejurikar assured stakeholders that Mahindra recognizes the importance of fortifying its position in the internal combustion engine space. He highlighted that even if electric vehicles constitute 30 percent of the market in the next three to five years, a significant 70 percent still belongs to ICE vehicles.
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