Mahindra has the kind of problem most carmakers would happily trade for: more people want its electric SUVs than the company can build. Demand has climbed to roughly 10,000–11,000 units a month, while the factory floor tops out near 8,000. The fix, a 12,000-a-month target, is on the calendar, but not before March 2027.
Key takeaways
- Mahindra says monthly EV demand is now 10,000–11,000 units, after retail sales ran above 8,000 a month in recent months.
- Capacity stood at about 8,000 units at the end of March 2026. The target is 12,000 a month by the end of FY2027 (March 2027), a 50% jump.
- Management says it could sell another 2,000–3,000 EVs every month if it had the supply.
- Mahindra is now India's second-largest electric car seller, behind Tata Motors.
What Mahindra actually said
The numbers come from Velusamy R, president of Mahindra's automotive business and managing director of Mahindra Electric Automobile. His message was blunt: the limit on sales right now is how many cars the company can deliver, not how many people want one.
Retail sales have been above 8,000 EVs a month for a couple of months. Demand, by his estimate, has moved up to 10,000–11,000. That leaves a gap of two to three thousand cars every month, which is a lot of customers to keep waiting.
The numbers at a glance
| Metric | Figure |
|---|---|
| Estimated monthly demand | 10,000–11,000 EVs |
| Recent monthly retail sales | Above 8,000 EVs |
| EV capacity, end of March 2026 | About 8,000 a month |
| Target capacity, end of FY2027 | 12,000 a month |
| Planned increase | 4,000 a month (+50%) |
| Extra sales Mahindra says it is missing | 2,000–3,000 a month |
| Share of demand currently met | Roughly 73%–80% |
Do the maths and the picture is clear. Eight thousand cars against 10,000–11,000 of demand means supply covers somewhere between 73% and 80% of what buyers want. And note this: even 12,000 only clears the current demand with about 1,000 cars to spare.
Why the factory, not the customer, is the bottleneck
Mahindra builds its born-electric SUVs, the BE 6, XEV 9e and XEV 9S, at its Chakan plant near Pune. Output was running at about 4,000–5,000 units a month in late 2025, and the company took it to 8,000 by March 2026. That is a big jump in a short time, but demand moved faster.
Velusamy pointed to supply-side trouble as well. He linked disruption from the West Asia conflict to aluminium supply, and said steel and copper suppliers also need to gear up. His expectation: supply should fall in line by the third quarter of FY27, with additional capacity arriving in the fourth quarter. He also said other EV makers face similar constraints.
The capacity plan matches what Mahindra's top brass outlined earlier. Rajesh Jejurikar, the group's auto and farm sector CEO, said in February that the company hoped to add 3,000–4,000 units of EV capacity through the XEV 9S. Mahindra's broader plan, reported by Autocar India, sets aside 4,000 of a 14,000-unit monthly capacity addition for EVs. Eight thousand plus four thousand gets you to twelve.
Where this leaves Mahindra in India's EV race
It is worth remembering how quickly Mahindra got here. In FY2026 the company sold about 42,000 EVs and lifted its share of India's electric car market from 7.8% to 21.2%. In the first half of calendar 2026, Mahindra's EV sales rose 147% to about 34,100 units, which pushed it past JSW MG Motor into second place.
Vahan registration data for September 2026 shows the market is still racing ahead: roughly 36,000 electric cars registered in the month, almost double last year. Tata Motors led with about 14,800, Mahindra followed with around 7,800, and JSW MG Motor was third with about 5,200. These are registrations, not factory dispatches, so treat them as a retail snapshot.
| Brand | September 2026 registrations | Approx. share |
|---|---|---|
| Tata Motors | About 14,800 | About 41% |
| Mahindra & Mahindra | About 7,800 | About 22% |
| JSW MG Motor | About 5,200 | About 15% |
| VinFast India | About 3,000 | About 8% |
Notice what that table says about Mahindra. It is selling just under 8,000 a month at retail, which lines up almost exactly with the capacity ceiling. A company that is growing this fast and still hitting the same wall every month isn't short of buyers.
What it means if you're waiting for a Mahindra EV
Mahindra's EV line-up today covers four models: the older XUV 400 and the newer INGLO-based BE 6, XEV 9e and XEV 9S. Launch prices (ex-showroom) were about ₹18.90 lakh for the BE 6, ₹21.90 lakh for the XEV 9e and ₹19.95 lakh for the three-row XEV 9S. Prices change, so check the current figure with your dealer.
On waiting times, reports through the first half of 2026 put popular variants and colours at around six months, though that varies by city and trim. Mahindra itself hasn't promised a number. If you're booking today, ask the dealer for a written delivery estimate for your exact variant, and don't assume the 12,000-a-month target helps you before the new capacity lands in early 2027.
My take: 12,000 is not a finish line
Here's how I read it. The target is sensible, but it is tight. If demand is already 10,000–11,000 and the EV market keeps growing the way it has, with registrations nearly doubling year on year, then 12,000 could be full before the new lines even settle. Mahindra has said as much by planning more EV models and a new Nagpur plant from 2028.
The other thing I'd watch is delivery, not just the headline figure. Capacity is a promise on paper. What matters to a buyer is the date on the delivery slip, and that depends on aluminium, steel, copper and battery cells arriving on time. The company has been open about those risks, which I'd call a good sign. Whether the Q3 and Q4 FY27 timelines hold is the real test, and I'll be tracking it.
For rivals, the message is uncomfortable. Tata still leads, but Mahindra has shown that well-priced, well-reviewed EVs can pull new buyers into the market quickly. Every month Mahindra spends capacity-constrained is a month Tata, MG, VinFast and Maruti can use to catch the customers who got tired of waiting.
Conclusion
Mahindra's EV story has moved from "will people buy these?" to "can we build them fast enough?" That's a better question to be asking. Demand of 10,000–11,000 units a month against about 8,000 of supply is a real gap, and the plan to reach 12,000 by March 2027 is the company's answer. If it delivers on time, Mahindra could convert thousands of waiting customers into owners and strengthen its hold on second place in India's electric car market. If it slips, rivals get a window. For anyone with a booking, the practical advice is simple: get your delivery date in writing.
Frequently asked questions
How many EVs does Mahindra plan to make per month?
Mahindra plans to raise its electric SUV capacity from about 8,000 units a month (end of March 2026) to 12,000 units a month by the end of FY2027, which is March 2027.
What is the current demand for Mahindra EVs?
According to Velusamy R, head of Mahindra's automotive business, monthly demand has risen to 10,000–11,000 units after retail sales stayed above 8,000 units in recent months.
Why can't Mahindra sell more EVs right now?
Capacity and supply are the limits. Production sits near 8,000 a month, and Mahindra has cited supply-chain pressure, including aluminium disruption linked to the West Asia conflict, with steel and copper suppliers also needing to scale up.
Which electric SUVs does Mahindra sell in India?
Mahindra's EV line-up includes the XUV 400, BE 6, XEV 9e and XEV 9S. The BE 6, XEV 9e and XEV 9S are built on the company's INGLO platform.
Is Mahindra the second-largest EV seller in India?
Yes. Mahindra is India's second-largest electric car seller after Tata Motors, having overtaken JSW MG Motor in the first half of 2026.
When will Mahindra's extra EV capacity arrive?
Mahindra's Velusamy R said supply should fall in line by the third quarter of FY27, with additional capacity coming from the fourth quarter (January–March 2027).
How long is the waiting period for the BE 6 and XEV 9e?
Reports through the first half of 2026 pointed to waits of up to around six months for popular variants, depending on city, trim and colour. Mahindra hasn't published an official figure, so confirm the estimate with your dealer in writing.