Mahindra Electric is going to go forward in the last-mile mobility segment. The strong demand of the company is planning to double its production capacity and also expand its product portfolio, which will entail an addition of close to half a dozen new vehicles, across electric three and four wheelers (quadricycles).
The company is likely to invest close to 300 crore for its last-mile mobility business which is about 10% of its allocated EV biz investment
and is likely to close FY22 with the volumes of about 14,000 to 15,000 EVs.
The production capacity at its Bengaluru facility accelerated and is about 30,000 units, people in the know say,M&M could potentially produce and sell about 1 lakh three-wheeler EVs annually by 2024-2025 and it is already gearing its vendor base to plan accordingly.
Suman Mishra, CEO, Mahindra Electric Mobility said "We are witnessing very strong demand, we hope to surpass all of the year-to-date sales again in the next quarter alone. We are seeing a strong tailwind, we expect to see the scale, size and sector to grow significantly."
Mishra is however non-committal on both the investments, volumes and the new products. "We don't report exact numbers, but suffice to say they are growing and demand is very strong, "she Added.The Company is witnessing traction for both last mile personal and commercial mobility.
