Mahindra CEO Anish Shah Bets Big on EVs Over Hybrids
Mahindra & Mahindra Group CEO Anish Shah announced the company's exclusive focus on electric vehicles, rejecting hybrid technology. The strategy centers on 'Born Electric' platforms, designed specifically for electric powertrains. Shah highlighted advantages of this approach, including superior vehicle dynamics, enhanced safety, reduced complexity, lower operating costs, and less maintenance. The company's BE6 Batman Edition SUV sold out rapidly, demonstrating market interest. Mahindra's strategy contrasts with competitors who maintain hybrid options. Shah believes the temporary advantages of hybrids will diminish as charging infrastructure improves.

*this image is generated using AI for illustrative purposes only.
Mahindra & Mahindra Group has made a bold strategic decision to focus exclusively on electric vehicles while steering clear of hybrid technology, according to CEO Anish Shah. In a recent interview with NDTV Profit, Shah outlined the company's rationale for betting on EVs as the long-term solution for sustainable mobility, emphasizing the advantages of 'Born Electric' vehicles over hybrid models.
Strategic Focus on 'Born Electric' Platforms
Shah's strategy centers on what Mahindra calls 'Born Electric' platforms—vehicles designed specifically for electric powertrains from the ground up. This approach differs significantly from the industry's initial transition method of converting internal combustion engine vehicles to electric.
"Born electric is effectively designing the vehicle for electric," Shah explained. "In the transition from ICE, all car makers initially took the ICE car, took out the engine, put batteries in, modified the powertrain, and it was an electric car. That's not efficient at all."
The company's confidence in this strategy was demonstrated by the BE6 Batman Edition, a limited-edition SUV that sold out all 999 units in just two minutes.
Market Position Against Hybrid Trend
While competitors like Maruti Suzuki with its Grand Vitara Strong Hybrid and Toyota Kirloskar Motors with the Innova Hycross continue pushing hybrid technology, Mahindra has chosen a different path. Even Tata Motors, India's EV market leader, maintains flexibility by backing both EVs and keeping options open for multiple pathways.
| Strategy Comparison | Mahindra | Competitors |
|---|---|---|
| Primary Focus | Born Electric EVs | Hybrid + EV flexibility |
| Vehicle Design | Ground-up EV platforms | Adapted ICE platforms |
| Market Approach | Single powertrain focus | Dual powertrain strategy |
Shah acknowledged that hybrids offer short-term benefits, particularly for longer highway drives where charging infrastructure remains limited. However, he argues this advantage is temporary and will diminish as charging infrastructure improves.
Technical and Economic Advantages
The CEO outlined several advantages of the Born Electric approach over hybrid technology:
- Superior vehicle dynamics: Better ride quality, handling, and suspension
- Enhanced safety features: Improved safety characteristics through dedicated EV design
- Reduced complexity: Single powertrain system versus dual powertrains in hybrids
- Lower operating costs: Cheaper electricity compared to fuel costs
- Reduced maintenance: Fewer mechanical components requiring service
Shah emphasized the practical benefits for consumers: "When you have the range these cars give you — 500 km in real-life conditions — most of our customers will charge once a week when they are driving in the city."
Long-Term Infrastructure Bet
"Hybrid gives you a short-term advantage," Shah stated, "but once charging infrastructure improves, that advantage goes away." This perspective reflects Mahindra's confidence in India's evolving EV infrastructure landscape.
The CEO was particularly direct in his assessment of hybrid technology's future relevance: "Hybrid, as someone said, is buying a typewriter in the age of iPhones."
Diversified Business Structure
Mahindra's strategic flexibility extends beyond automotive decisions to its overall business structure. The group maintains a decentralized approach across multiple sectors, with automotive contributing only about a quarter of group profits. The remaining revenue comes from farm equipment, services, real estate, logistics, and hospitality.
"The biggest risks are often the ones you don't see coming," Shah noted. "What you need is the ability to move fast." This philosophy has helped the group navigate challenges from semiconductor shortages during the pandemic to supply-chain constraints, sometimes requiring innovative solutions like manufacturing vehicles without key components and retrofitting them later.
Mahindra's decisive move away from hybrid technology represents a significant strategic bet on the future of electric mobility in India, positioning the company as a pure-play EV manufacturer in an increasingly competitive market.
Historical Stock Returns for Mahindra & Mahindra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.34% | +2.32% | -1.28% | +16.52% | +23.52% | +414.67% |










































