Mahindra & Mahindra Ltd. (M&M) is gearing up for a major global play with its newly unveiled NU_IQ modular SUV platform, with exports to South Africa and Australia slated to begin in the first phase of rollout, followed by the UK, and subsequently other international markets. The platform will produce a range of petrol, diesel, and electric SUVs, with the first product launch scheduled for 2027.
During its Independence Day event, Mahindra unveiled four new concept SUVs–Vision.S, Vision.X, Vision.T, and Vision.SXT–based on the NU_IQ platform. The company’s management described the platform as a multi-energy, global-ready architecture that balances its SUV DNA with flexible powertrain choices.
Outlining the exports roadmap, Nalinikanth Gollagunta, CEO of Automotive Division, M&M and ED, Mahindra Electric Automobile Ltd., said: “The first phase for us is taking NU_IQ SUVs to markets we already play in. That would be South Africa and Australia. Phase two will be driven by the UK, where it will be EV-first, aligning with the country’s zero-emission commitments. Phase three will see a broader global pickup.”
Mahindra has already launched its XUV 3XO in South Africa and Australia, which Gollagunta described as “building blocks” for future market readiness. The company will next take its EVs to the UK and other markets. He noted that as the NU_IQ-based vehicles mature post-2027, Mahindra would expand exports in a calibrated manner.
While the NU_IQ platform has been designed for global readiness, Jejurikar emphasized these vehicles will cater to both India and export markets. “They’re not primarily for international markets. Global takes time to build up. When you go to any new country, you have to build brand, network, service capability, all of that. That’s why we’re calling this Vision 2027, but full scale will take 2–3 years to build.”
India remains the growth anchor, with Mahindra seeing untapped potential in 70% of the domestic SUV market, particularly in the “core SUV” sub-segment. Globally, the opportunity is “2x India’s” in terms of market size, excluding China and Japan, said Gollagunta.
With NU_IQ, Mahindra is looking to further its SUV dominance in India while scaling up internationally. The platform’s fungibility between ICE and EV, coupled with the phased global rollout, provides flexibility to calibrate production and market entry.
Investments and Capacity
NU_IQ is part of Mahindra’s previously announced ₹27,000-crore investment cycle (FY25–27), of which ₹12,000 crore is earmarked for EVs and ₹8,000 crore for ICE vehicles. The platform’s development and product rollout are embedded within these numbers, with no additional allocation disclosed separately.
To support the NU_IQ rollout, M&M is adding 240,000 units of annual production capacity at its Chakan facility, raising the plant’s total output to around 760,000 units. The expansion, a brownfield project, involves shifting some commercial vehicle production elsewhere.
Beyond Chakan, Mahindra has expressed interest in a land parcel near Igatpuri to strengthen the Nashik-Igatpuri ecosystem, while also evaluating a greenfield site that could add 2.5–5 lakh units of additional capacity. By 2028, Mahindra expects its total passenger vehicle capacity to cross 1 million units annually.