With volumes already up several fold in the past five years, Mahindra Last Mile Mobility eyes another 2–3x leap in electric vehicle growth by FY30.
05 May 2025 | 859 Views | By Shahkar Abidi and Ketan Thakkar
Mumbai-based automaker Mahindra & Mahindra (M&M) is accelerating its push into electric mobility, with its Last Mile Mobility business unit reporting a multifold surge in EV sales over the past five years. From 14,000 units in FY20 to 78,000 in FY25, the company now plans to scale this number two ...
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Mumbai-based automaker Mahindra & Mahindra (M&M) is accelerating its push into electric mobility, with its Last Mile Mobility business unit reporting a multifold surge in EV sales over the past five years. From 14,000 units in FY20 to 78,000 in FY25, the company now plans to scale this number two to three times further by FY30, banking on the growing demand for affordable electric transport solutions in first- and last-mile connectivity across the country.
"Up from 14,000 to 78,000 already — so you see significant growth over the last five years," said Dr. Anish Shah, Group CEO & Managing Director, M&M. "We're now targeting two to three times that growth over the next five years," he added, emphasizing that it's a very strong set of numbers within Mahindra & Mahindra’s scalable programs. "This is how we are building these businesses to be larger over the next five years," Shah continued.
Mahindra Last Mile Mobility Limited (MLMML), with its flagship brands Treo and Zor Grand, has driven electrification in the L5 category, contributing to a significant 24.2% EV penetration in the segment during FY25 — a notable rise from 16.9% in FY24.
In FY25, MLMML expanded its product portfolio with the launch of the Treo with a metal body and the Mahindra ZEO — its first-ever four-wheeler electric small commercial vehicle (SCV). The Mahindra ZEO, following in the footsteps of its electric three-wheeler stablemates, has commenced its journey in four-wheeler cargo electrification.
The company now boasts a wide-ranging portfolio of electric, petrol, CNG, and diesel last-mile mobility vehicles, including both three- and four-wheeler passenger and cargo variants.