Mahindra Last Mile Mobility Aims for 2-3x EV Growth by 2030

Update On: Tue May 06 2025 by Pratham Verma

Mahindra & Mahindra’s (M&M) Last Mile Mobility (LMM) division is set to take electric vehicle (EV) growth to new heights, with a plan to scale volumes by 2 to 3 times by FY30. This ambitious target follows a remarkable surge in sales over the past five years, marking a significant shift in the company's strategy to meet the rising demand for sustainable transport solutions in India.

Impressive Growth Trajectory

Mahindra’s commitment to electric mobility is evident in the robust growth achieved by its Last Mile Mobility unit. From a modest 14,000 EV units in FY20, the division's sales have skyrocketed to an anticipated 78,000 units in FY25. This impressive trajectory reflects the success of Mahindra's electric offerings, particularly in the first- and last-mile connectivity segment — a space that is crucial for urban and rural mobility in India.

In a statement, Dr. Anish Shah, Group CEO and Managing Director of M&M, emphasized the significant milestones achieved in recent years. "Up from 14,000 to 78,000 already — so you see significant growth over the last five years," Dr. Shah remarked. He further highlighted the company's ambition to grow this number by two to three times by FY30. This ambitious goal underscores Mahindra’s strategic push to capitalize on the growing demand for electric mobility solutions across the country.

ZF Launches Advanced e-comp Scroll Compressor for Electric Commercial Vehicles

Growing Demand for Electric Transport

The demand for electric vehicles in the last-mile connectivity space has been growing rapidly, with Mahindra playing a significant role in the electrification of this segment. According to the company’s reports, the penetration of EVs in the L5 category — which includes electric three-wheelers and small commercial vehicles — has increased from 16.9% in FY24 to 24.2% in FY25, signaling a shift towards greener, more sustainable transportation options.

Expanding the Electric Vehicle Portfolio

Mahindra Last Mile Mobility’s focus on expanding its product portfolio has played a key role in the company’s success. In FY25, MLMML launched the Treo with a metal body, which offers enhanced durability, and the Mahindra ZEO — a groundbreaking small commercial vehicle (SCV) that marks the company’s entry into four-wheeler electric cargo vehicles. These products are designed to meet the diverse needs of the Indian market, whether it’s for urban passenger transportation or commercial freight.

With a wide-ranging portfolio that includes electric, petrol, CNG, and diesel vehicles, Mahindra’s approach to last-mile connectivity is both comprehensive and flexible. The company’s electric offerings, particularly in the three- and four-wheeler categories, have set a strong foundation for the company's growth in the electric mobility space.

The Road Ahead: Strategic Expansion

The company’s vision for the next five years is rooted in the success of its scalable programs, as Dr. Shah explains: “This is how we are building these businesses to be larger over the next five years.” With its solid growth trajectory and focus on sustainable solutions, Mahindra Last Mile Mobility is poised to play a leading role in the transition to electric transportation in India.

Conclusion

Mahindra & Mahindra’s commitment to electric mobility is reshaping the future of last-mile connectivity in India. With strong growth in sales, an expanding product portfolio, and an unwavering focus on sustainability, Mahindra’s Last Mile Mobility division is poised to significantly increase its EV volumes by 2030. As the country increasingly embraces electric vehicles, Mahindra’s efforts will be key in providing affordable and efficient transport solutions that cater to the diverse needs of Indian consumers and businesses alike.