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Mahindra Last Mile Mobility bets on cargo EVs and electric four-wheelers to drive growth

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Mahindra Last Mile Mobility bets on cargo EVs and electric four-wheelers to drive growth

Mahindra Last Mile Mobility bets on cargo EVs and electric four-wheelers to drive growth

The Maharashtra-based automaker, which recently became a unicorn with a valuation of ₹10,822 crore, plans to launch eight new products and variants across its portfolio by FY30.

Mahindra Last Mile Mobility is planning to drive its next phase of growth from cargo electric three-wheelers and electric four-wheelers , as it seeks to expand electrification beyond the passenger three-wheeler segment. The Maharashtra-based automaker, which recently became a unicorn with a valuation of ₹10,822 crore, plans to launch eight new products and variants across its portfolio by FY30. "There is a cargo auto, which is very little electrified—sub-20 per cent, and four-wheelers are only around 11 per cent electric year to date. The push, of course, has to be to increase electrification in those not yet electrified categories, whether it's the 4-wheeler or the cargo segment altogether," Suman Mishra, Managing Director and CEO, Mahindra Last Mile Mobility, told ETAuto . Advt

The company’s portfolio spans e-rickshaws, L5M e3W passenger three-wheelers, cargo three-wheelers and four-wheelers. Focus on affordability

The company is also eyeing tailoring products to different customer requirements, with affordability remaining a key consideration in the commercial vehicle segment. “Our technology is very focused on frugal innovation, which means you can bring the best technology at a very low cost,” she said. The company, which recently raised ₹322 crore from global sustainable investment platform Lightrock and existing investors, said the major proportion of the amount will be utilised in R&D (research and development).


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