'Incentives for e-3 wheelers must stay for 2 more years'
Mint Mumbai|April 13, 2023
Mahindra and Mahindra’s subsidiary Last Mile Mobility is stepping up efforts to consolidate its position in the electrification of three-wheelers and small commercial vehicles, which will be driven by its new brownfield facility in Zaheerabad, Telangana, and the construction of the unit will start in this quarter.
Alisha Sachdev
'Incentives for e-3 wheelers must stay for 2 more years'

It will also receive 600 crore from the World Bank Group’s International Finance Corp. (IFC), which has valued the business at 6,000 crore. Suman Mishra, chief executive, Mahindra Last Mile Mobility, said in an interview that e-three-wheelers are in its nascency, but has the potential to rapidly scale to reach 25-30% penetration by FY25. Edited excerpts:

The electric three-wheeler market is fragmented, with low penetration levels. What has your volume expansion been through FY23, and what are the priorities to scale the business?

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