Mahindra Electric Mobility's big action plan for next year

A leader in the electric three-wheeler space with a 68 percent market share, future strategies include introduction of electric wheelers with swappable batteries in the first half FY24, writes Amit Vijay M.

- Amit Vijay M.

For Suman Mishra, CEO of Mahindra Electric Mobility (MEPL) getting a slice of a rickshaw driver's life, meeting him on the ground, mirroring his concerns and gently coaxing him to look at an electric vehicle (EV) alternative is more than just a job description.

Understanding and interpreting these aspects is fundamental to the success of a business plan that is to double existing production capacities from 4,000 units to 8,000 units. This is to be done by adding new assembly lines at its manufacturing locations in Bommasandra Industrial Area, Bengaluru and Zaheerabad, Hyderabad.

This expansion plan is part of the overall group Rs 300 crore capex rollout plan for the last mile mobility business which has more than doubled over the last 12 months.

Mishra has been with the Mahindra Group since 2015 and took over the current role on August 14, 2021. "When I took over, there were 1,000 odd units in sales. By November 22, we delivered 4,000 plus electric vehicles," she says. Mishra comes from a diverse background with Ivy League credentials and has previously worked with Cipla and McKinsey before landing into the commercial mobility space. Last month MEPL delivered 5,198 units as compared to 2,564 units in FY21 netting a 103 percent increase over the month-on-month performance.

As part of the bigger picture moving into FY24, MEPL also plans to introduce a product that will rival Tata Ace Electric which will be an e-LCV. The proposed product will have a larger battery pack and added range for intra-city transport as well as the current range of its products are targeted towards the passenger and intra-city transport.

For MEPL like the other OEMs the challenge is not just to add another wheel, but with a larger battery pack, you are adding to the cost. Also, after the heavy battery pack is adjusted for, the payload becomes restricted, Mishra explains.