Mahindra Launches Veero to Capture SCV Market
ECONOMY & POLICY

Mahindra Launches Veero to Capture SCV Market

Mahindra and Mahindra (M&M) is targeting the under-3.5-tonne small commercial vehicle (SCV) segment with the launch of the Veero, developed on its Urban Prosper Platform (UPP). The Veero will offer multi-fuel options, including diesel and CNG, with an electric variant planned for the future.

The Veero is priced at ?7.99 lakh for the entry-level model. M&M has ambitious plans to expand its light commercial vehicle (LCV) portfolio, with plans to introduce seven new models by 2030, all addressing intra-city logistics needs.

Nalinikanth Gollagunta, CEO of M&M's automotive division, stated that UPP is a modular platform engineered to handle payloads of 1-2 tonnes across multiple deck lengths and powertrain configurations. The company has invested ?900 crore in developing the platform and the Veero, with additional investments anticipated as production scales up.

M&M aims to enhance total cost of ownership, comfort, and performance, focusing on the intra-city market where it has traditionally been strong in inter-city operations. Gollagunta noted that while diesel and CNG have proven viability, the demand for electric vehicles (EVs) could grow due to ESG mandates from e-commerce companies.

Currently, M&M holds a market share of over 50% in the less-than-3.5-tonne segment and expects to increase this share as it taps into the intra-city market. Despite a recent decline in sales, with 2,957 units sold under 2 tonnes in August and 14,661 units in the 2-3.5-tonne category, M&M received positive feedback during a month-long market test of the Veero.

Mahindra and Mahindra (M&M) is targeting the under-3.5-tonne small commercial vehicle (SCV) segment with the launch of the Veero, developed on its Urban Prosper Platform (UPP). The Veero will offer multi-fuel options, including diesel and CNG, with an electric variant planned for the future. The Veero is priced at ?7.99 lakh for the entry-level model. M&M has ambitious plans to expand its light commercial vehicle (LCV) portfolio, with plans to introduce seven new models by 2030, all addressing intra-city logistics needs. Nalinikanth Gollagunta, CEO of M&M's automotive division, stated that UPP is a modular platform engineered to handle payloads of 1-2 tonnes across multiple deck lengths and powertrain configurations. The company has invested ?900 crore in developing the platform and the Veero, with additional investments anticipated as production scales up. M&M aims to enhance total cost of ownership, comfort, and performance, focusing on the intra-city market where it has traditionally been strong in inter-city operations. Gollagunta noted that while diesel and CNG have proven viability, the demand for electric vehicles (EVs) could grow due to ESG mandates from e-commerce companies. Currently, M&M holds a market share of over 50% in the less-than-3.5-tonne segment and expects to increase this share as it taps into the intra-city market. Despite a recent decline in sales, with 2,957 units sold under 2 tonnes in August and 14,661 units in the 2-3.5-tonne category, M&M received positive feedback during a month-long market test of the Veero.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code