MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

Your Company continues to invest in technology development and patent acquisitions. The Company's total patent granted portfolio stands at 297 across multiple geographies and has signicantly grown over last fewyears. The Company is setting up a dedicated design centre in the UK to signicantly enhance our design capabilities. The newGlobal design organisation has crafted a design vision for range of Born Electric vehicles and is giving a new dimension to amplify design of our Authentic ICE SUVs. To complement the design vision, the Engineering team is building capability to offer technology that will set higher benchmarks in the newEVworld. The range of Born EVs will be showcased to theworld in themonth of August 2022. The Company is strengthening its leadership in the light commercial vehicles by revamping entire pickup range to provide signicant value upgrade. This development will also help us create new segments with pickups, thereby increasing our market coverage. The escalations in fuel prices have increased acceptance of alternate fuels. Mahindra already has the widest range of CNG offerings, and concrete steps are in development to improve prices and competitiveness. Pickups are mainstay of M&M's market share in sub-3.5T segment and for prots. As a de-risking strategy, the Company is developing an all-new platform aimed at protecting our market share from new players in urban landscape. BS-VI has led to disruption of small commercial vehicles (sub 2T). We are looking at projects to pivot us in new growth dimensions with higher emphasis on CNG and Electric. The Company plans to capitalize on our strengths and the upcycle across SUVs and CVs over the next few years. We aim to become #1 core SUV player leveraging our House of Brands - XUV, THAR, BOLERO and SCORPIO and launching 13 new products by 2027. For the year under review, your Company filed a total of 149 patent applications. Cumulatively, your Company has filed 1,740 patent applications so far. Your Company is #1 in Electric 3W segment and has been continuously developing capabilities for a successful foray in SUVs. Of the 13 new launches, we plan to launch 8 New EVs by 2027 that will comprise 20%of our volume. COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 124