MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

COMPANY OVERVIEW RISE TO CREATE VALUE RISE TO BE FUTURE READY RISE FOR A MORE EQUAL WORLD CORPORATE INFORMATION STATUTORY REPORTS FINANCIAL STATEMENTS We foresee that our core auto brands will continue to remain in strong momentum, aided by the strong booking momentum of new additions like the Scorpio-N, and the continuing success of the Bolero Neo and the Thar. Building an SUV Legacy In F23, we retained our No.1 position in LCV <3.5T segment with 45.5% market share for the ninth consecutive year. This year, we further solidif ied our leadership position in the light commercial vehicles segment by revamping the entire Pik-Up range to provide signif icant value upgrade. Strengthening Leadership in LCV 5 mega launches with ~292K open bookings* *(as on 1 May, 2023) Developing the EV Strategy In line with our EV vision, we announced to make investments of INR 10 thousand crore over a horizon of 7-8 years through our subsidiaries. These investments shall be for setting up the manufacturing facility, development, and production of our upcoming Electric Vehicles. We reinforced our vision by setting-up Mahindra Electric Automobile Limited (“MEAL”), valued at USD 9 Billion (INR 70 thousand crores) with an investment from British International Investment (BII). In parallel, Last Mile Mobility (LMM) is following suit with a valuation of INR 6 thousand crores with International Finance Corporation (IFC) investing to further electrif ication in the last mile segment. We showcased our audacious vision for the future of electric mobility with the unveiling of our new state-of-the-art EV platform INGLO and f ive new production ready e-SUVs under two EV brands (Mahindra Twin Peak and BE). The EV 3Ws hit record sales and a dominant market leadership position with ~65% share. 17