Mahindra Last Mile Mobility Targets 6x Sales Growth by 2030, Eyes Export Expansion

Mahindra Group outlined an aggressive roadmap for its Last Mile Mobility division on Thursday. The company aims to grow revenue sixfold by 2030, electrify half its portfolio, and expand exports to more than 10 markets. The mobility and technology conglomerate presented this vision at its Investor Day, positioning the last-mile segment as a core pillar of its long-term mobility strategy.

Mahindra Last Mile Mobility’s revenue growth aspiration is backed by three key growth vectors: rapid electrification, product category expansion, and a push to scale exports. The company expects 50% of its last-mile portfolio to be electric by FY2030, driven by strong adoption in e-commerce, urban mobility and small-business logistics.

The company is also betting on portfolio breadth to outpace market growth. It plans to expand both its electric three-wheeler and electric four-wheeler cargo offerings, targeting 2x industry growth between FY23 and FY30. With demand for electric load carriers rising across metros and smaller towns, the company aims to establish clear segment leadership in both people-movement and goods-movement applications.

The company has also prepared for international expansion. It plans to enter 10 or more global markets where electric last-mile solutions are gaining momentum.

Mahindra Last Mile Mobility currently offers models like Treo Plus, Zor Grand Range+, ZEO, and others. By 2031, it aims to place one million electric cargo and passenger three- and four-wheelers on Indian roads. Currently, sales stand at 300,000 units.

Over the last three years, the Indian automaker has scaled its electric commercial vehicle business rapidly, with volumes growing fivefold between FY22 and FY25. This has translated into solid financial performance, with the company reporting ₹3,783 crore in revenue and ₹247 crore in profit after tax in FY25, signaling a move from early EV entry to high-volume profitability within the Mahindra Group.