Mahindra may have a big vision for electric vehicles (EVs), but the company is not going to phase out its old internal combustion engine (ICE) vehicles anytime soon. However, after upgrading the Thar and Scorpio with new generation models, it is time to give another old vehicle a complete makeover in my opinion.
Mahindra Bolero is expected to be upgraded to a new generation model. Based on a new architecture called U171, the new prototype is expected to hit the market in 2026 or 2027. There is a possibility. Apparently, the company will invest more than Rs 2,000 crore for the development of this new architecture. Claimed.
Mahindra Bolero Set for Major Makeover, ICE Vehicles Still a Priority
While Mahindra & Mahindra has ambitious plans for the electric vehicle (EV) space, the company isn’t turning its back on its traditional internal combustion engine (ICE) lineup anytime soon. After launching new-generation versions of popular models like the Thar and Scorpio, Mahindra is now gearing up to give the Bolero a significant upgrade.
According to recent reports, the Bolero will be introduced in a brand-new generation, built on a fresh platform called U171. This new architecture is expected to debut sometime between 2026 and 2027, with Mahindra reportedly investing over ₹2,000 crore in its development.
The U171 platform will not only support the next-gen Bolero but is also expected to underpin at least six new vehicles, including a mix of SUVs and pickup trucks. Out of these, around three SUVs are likely, potentially generating an annual volume of 1.5 lakh units. Once the pickup variants roll out, this figure could even double.
Before the arrival of the new Thar, XUV700, and Scorpio-N, the Bolero was Mahindra’s top-selling model. Even today, the combined sales of the Bolero and Bolero Neo stand at 8,000–9,000 units per month, making up nearly 20% of Mahindra’s total passenger vehicle sales. With the new platform, Mahindra is expected to offer the updated Bolero in both SUV and pickup formats.
Thanks to the strong presence of the Bolero Pickup, Mahindra currently holds a 60% market share in the pickup segment. The Bolero range continues to enjoy immense popularity in Tier 2 and Tier 3 cities across India, with a legacy that spans over two decades.
In an interview with Autocar Professional, Rajesh Jejurikar, Executive Director and CEO of Mahindra’s Auto and Farm sectors, stated that ICE vehicles will continue to receive significant focus. “There is adequate and more than adequate attention on ICE vehicles for the future,” he said, noting that even if EV penetration reaches 30% in the next 3–5 years, 70% of the market will still be ICE-driven.
Currently, Mahindra has a backlog of 2.86 lakh bookings, and nearly 99% of those are for ICE models. Along with the new Bolero, Mahindra is also preparing for other ICE launches in the near future, including the facelifted XUV300 and the much-anticipated 5-door Thar, both expected in the first half of 2024.