Mahindra & Mahindra shares rise over 2% a day after launching electric 7-seater SUV XEV 9S

Shares of the country's largest utility and farm equipment maker, Mahindra & Mahindra, rose as much as 2.38% to hit an intraday high of ₹3,768.90 on the National Stock Exchange a day after it launched electric 7-seater sports utility vehicle (SUV) XEV 9S.

Mahindra & Mahindra on Thursday launched 7-seater SUV starting at ₹19.95 lakh the bookings for the car will begin on January 14, 2026 and delivery will start from January 23.

"The XEV 9S arrives as India’s Big New Electric — a bold idea crafted into an intelligently spacious SUV for people whose lives, dreams, and daily journeys are getting bigger. It’s designed for families, creators, travellers, and everyday Indians who want one simple thing from their car space for everything they want to do and everything they want to be," Mahindra & Mahindra said in a press release.

“We have always believed that technology is meaningful only when it expands human possibility. The XEV 9S built on the INGLO electric origin platform does exactly that by creatin space – more than anyone else and gives a smooth and noise free ride . THE MAIA brain enables many of its high tech features, making it the most advanced offering for its price,” said R Velusamy, President - Automotive Business, Mahindra & Mahindra and Managing Director, Mahindra Electric Automobile.

Meanwhile, global investment bank Nomura maintained its positive stance on Mahindra & Mahindra. It said that Mahindra & Mahindra launched its much-anticipated 7-seater electric SUV, the XEV 9S surprising the market with an active introductory price of ₹19.95 lakh. The pricing comes in significantly lower than earlier expectations of ₹23–31 lakh, positioning the model as a highly competitive offering in India’s premium EV segment, Nomura added.

Built on M&M’s advanced INGLO platform, the XEV 9S is powered by the company’s intelligent MAIA technology suite, which enhances performance, connectivity, safety and user experience. The SUV packs a range of premium features, targeting both urban families and long-distance EV buyers looking for a spacious 7-seater alternative.

The aggressive pricing strategy is expected to boost M&M’s positioning in the fast-growing electric SUV market and intensify competition across the mid-to-premium EV category, Nomura said.

As of 11:04 am, Mahindra & Mahindra shares traded 1.95% higher at ₹3,753, outperforming the NIFTY50 index which was up 0.1%.