Mahindra & Mahindra’s Last Mile Mobility (LMM) division has achieved a remarkable milestone in the Indian electric vehicle (EV) market by becoming the largest electric three-wheeler manufacturer in the fiscal year 2023. LMM’s success can be attributed to its wide range of last-mile mobility vehicles, including electric, petrol, CNG, and diesel variants, catering to diverse customer needs.
In FY23, LMM recorded impressive sales figures, with 36,816 EVs sold, capturing a significant market share of 14.6%. This represents substantial growth compared to the previous fiscal year, where LMM sold 17,522 EVs and held a market share of 7.6%. The strong sales performance reflects the increasing demand for electric three-wheelers in India, driven by the need for sustainable and cost-effective transportation solutions.
One of the key factors contributing to LMM’s success is its extensive network of touchpoints and charging stations across the country. With 1,150 touchpoints and over 10,000 charging stations integrated into their ecosystem, LMM ensures convenient access to charging infrastructure for their customers. This infrastructure plays a crucial role in addressing range anxiety and promoting the widespread adoption of electric three-wheelers.
LMM’s commitment to innovation is evident in the introduction of the Zor Grand, a new three-wheeler EV that quickly gained popularity. Within just one year of its launch, the Zor Grand received an overwhelming response, accumulating an order book of more than 23,000 units. This showcases the market’s enthusiasm for LMM’s electric offerings, driven by factors such as increased environmental awareness, favorable government policies, and cost savings associated with EV ownership.
The success of LMM’s electric three-wheelers can be attributed to their advanced features and performance capabilities. The Treo range of vehicles, powered by lithium-ion batteries, has emerged as a leader in the electric auto segment. The Mahindra Treo, along with its cargo versions, the Treo Zor and Zor Grand, offers an impressive 32% market share in their respective segments. These vehicles boast features like Dolby Atmos support, advanced connectivity options, spacious interiors, and superior battery performance.
As LMM continues to lead the electric three-wheeler market, they remain focused on delivering innovative, sustainable, and affordable last-mile mobility solutions. By offering a diverse range of vehicles and expanding it’s charging infrastructure, LMM aims to enhance the lives of its valued customers while contributing to India’s carbon emission reduction goals.
In conclusion, Mahindra’s Last Mile Mobility division has established itself as India’s largest electric three-wheeler maker in FY23, driven by strong sales, market leadership, and a commitment to sustainable mobility. With its comprehensive product lineup and expanding charging infrastructure, LMM is poised to play a significant role in the ongoing transition toward electric mobility in India.
