New Delhi: Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra & Mahindra Limited, in 8M FY24 sold 40,000 electric vehicles driven by the launch of two new products - Treo Plus and e-Alfa Super and payload variants. It still dominates the electric three-wheeler market.
Leveraging its success, MLMML has so far sold over 1.4 lakh electric vehicles and holds a 9.3% market share in the electric three-wheeler space in India. In the L5 EV segment, MLMML is the leader with a market share of 55.1% so far in FY24, the company said in a press release.
This major achievement demonstrates the growing demand for Mahindra electric vehicles and highlights the company's commitment to pioneering sustainable last-mile mobility solutions. To meet this continuing demand for electric three-wheelers, production has tripled. MLMML's manufacturing plants are located in Bengaluru, Haridwar, and Zaheerabad, the statement said.
According to Suman Mishra, MD & CEO of MLMML, "In FY24, our customer-first approach helped intensify our efforts to electrify the last-mile transportation space. Sales of 40,000 electric three-wheelers in just eight months demonstrate the drivers' access to a wide range of revenue streams from our electric cars. We are committed to improving the lives of our customers by consistently delivering innovative and sustainable last-mile mobility solutions at value for money.”
As part of its customer-centric approach, Mahindra Last Mile Mobility Limited offers the UDAY programme. This scheme, on purchase of an MLMML EV vehicle, provides drivers with an accident insurance cover of INR 10 lakh for the first year, the statement added.
Also Read: Opinion: Will Gen AI spark the next major disruption in automotive ER&D?