MUMBAI: Even as India’s electric transition gathers pace and global rivals crowd the domestic market with new powertrain categories, Mahindra & Mahindra (M&M) is pursuing an aggressive counter-cyclical push into internal combustion engines (ICE) and international markets.Underpinned by persistent domestic demand for diesel sports utility vehicles and lingering consumer unease over ethanol fuel blends, the Mumbai-based automotive group is significantly expanding manufacturing capacity while committing to launch more than 10 new combustion-powered SUVs and six battery electric vehicles (BEVs), spanning dedicated born-electric models and multi-energy architectures such as the new NU_IQ platform, as well as one lifestyle truck unveiled on Saturday.The Independence Day weekend saw M&M unveil the Scorpio Lifestyler pickup, to be launched in April at a price below Rs 20 lakh, to target global markets and create a category in India. It also launched the BE 6 SPORTEQ, an upgraded electric SUV.SUV demand remains robust, with M&M targeting high-teens growth in Q1FY27 after 20% growth in July. It expects LCV growth to moderate to high single digits and tractor growth to about 5% as commodity prices are passed on in this price-sensitive segment.On the EV transition, Jejurikar said it is accelerating. M&M's EV share rose from zero last March to nearly 12% as adoption accelerated. Jejurikar expects growth to continue as more users build confidence through experience and word of mouth.“In three-wheelers, that category penetration moved from 20% to 23% in 2024 to about 45% now. It's quite a remarkable pace of transition. So, I think India will grow, but I don't think it will be at the pace of China, as China tends to set up infrastructure before demand, while in India we do it in steps,” he said.He added that the growth is profitable. “EVs were profitable from the first quarter we launched. We are roughly making about Rs 230 crore of profit before income tax per quarter.”M&M, the largest SUV company by revenue, aims to retain its share in commercial vehicles. Its core auto margin, covering ICE SUVs and EVs, stands at 9.5%-10.5%.West Asia has had little impact on demand, but commodity inflation and labour shortages have tightened supplies.“The supply situation is overall tight because demand has been strong. Strangely, what has affected supply more in the last three to four months has been labour shortages in the country, especially with our suppliers. While the gas shortage triggered supply issues, after that, the elections resulted in a lot of labour moving to their hometowns.”The pickup, developed over three years after its 2023 concept debut, targets recreational travel and use on farms and plantations. Production will begin at Chakan, using shared facilities but requiring a new body shop. M&M expects volumes to build gradually, as they did for the Scorpio and Thar.