The automotive giant, which already holds a commanding 40% share in this segment, has invested over Rs 900 crore in the first phase of developing this "car-like" multi-energy platform.
16 Sep 2024 | 7071 Views | By Shahkar Abidi and Ketan Thakkar
Mahindra & Mahindra is strengthening its position in the Indian small pickup market with the launch of its new Urban Prosper Platform (UPP). The automotive giant, which already holds a commanding 40% share in this segment, has invested over Rs 900 crore in the first phase of developing this "car-like" ...
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Mahindra & Mahindra is strengthening its position in the Indian small pickup market with the launch of its new Urban Prosper Platform (UPP). The automotive giant, which already holds a commanding 40% share in this segment, has invested over Rs 900 crore in the first phase of developing this "car-like" multi-energy platform.
"This is India’s first modular multi-energy platform," said Veejay Nakra, President of Mahindra’s Automotive division. "We’ve been working on this product for some time, and today’s launch marks a significant milestone."
According to Nakra, small pickups make up about 30% of the total commercial vehicle (CV) market, with Mahindra holding a 40% share in this segment. In the large pickup segment, which accounts for around 35% of the market, Mahindra enjoys a dominant 80% share.
The company plans to produce 1,20,000 units annually at a new facility in Pune, with initial monthly production expected to reach approximately 5,000 units.
The UPP platform, designed to support diesel, CNG, and electric powertrains, represents a strategic move by Mahindra to capitalize on the growing demand for fuel-efficient and environmentally friendly vehicles.
As the company continues to invest in new technologies and expand its product portfolio, its dominance in the Indian small pickup market is expected to remain strong across the categories in which it operates.