Mahindra Electric Mobility consolidates with M&M
Date: 26 Mar 2021
Board of Directors of Mahindra & Mahindra Limited (“M&M”) has granted
an in-principle approval for consolidation of Mahindra Electric Mobility
Limited, a step-down subsidiary of the Company (“MEML”) into the Company.
Consolidation would categorise EV operations in two focused verticals: Last
Mile Mobility (LMM) and Electric Vehicle Tech Centre.
Simplifying the structure will drive improvements through innovation, execution
excellence, efficiencies and economies of scale. Additionally, it will unlock
Provide LMM vertical with complete ownership of value chain for last mile
mobility solutions to drive growth and execution.
Provide EV Tech Centre with the depth of resources and synergy with M&M’s
larger ecosystem of product development capability in MRV, North America and
Europe whilst exploring partnerships and alliances.
is the pioneer of Electric Vehicles and its technology in India. Its EV
journey, which is more than two decades old started with ‘Bijlee’, the aptly
named and arguably India’s first commercial and roadworthy electric
vehicle. Since then, EVs have been an
important part of the business with a range of passenger and commercial vehicles.
There are over 32,000 Mahindra EVs on Indian roads which have covered more than
270 million kilometers. From being inducted in the French Presidential fleet
with Peugeot electric two-wheelers to opening a new customer base of women
entrepreneurs with Mahindra Treo, to Formula E races, Mahindra offers a range
of unique EV capabilities to its customers and partners.