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.
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Spain's Fersa Group invests in India-based Delux Bearings
Besides theRs100 croreinvestment, the Indian company gets access toadvanced technologies and bearings with arange of applications that willhelpinits global growth strategy, writes Manobhava Baruah.
Tata Autocomp to open compact dual-clutch transmission plant
Amidthe country’s growing need for personal mobility with easy manoeuvrability, comes the demand for vehicles with automatic transmission. Tata AutoCompisready tomovein writes Shruti Mishra.
Pankaj Munjal-backed Hero Motors raises equity from GEF Cap
The company willinvest Rs1,500 crore over thenextthree years andit expects 60 percent ofits turnover to come fromelectric vehicle parts. Itaims to becomea Global EV Solutions Company from India
New age thermoplastics for next-generation EV batteries
Saudi-based global materials major SABIChas developed cutting edgein fire-resistant polymers and flame-retardant materials that comply with various EV battery safety standards across the world.
Switch Mobility to meet growing e-bus demand with fresh capex
Oncourse for abillion-dollar business, the company is exploringa possibility of operating satellite factories across the country to serve different geographies, write ShahkarAbidi and Ketan Thakkar.
Kia India to invest Rs 2,000 crore in EVS, to introduce new e-RV in 2025
New investmentto drive R&D, infrastructure development and manufacturing capabilities. The company willlocally produce EVsin India with possibility of exports as well, writes Mayank Dhingra.
"The government has given enough time for indigenisation but the industry has not taken it seriously"
Amitabh Saran, Founder and CEO, Altigreen, shares his views on problems inthe EV industry and battery localisation solutions with Amit Vijay M.
TATA MOTORS SEES ONE INTWO CARS SOLDAS EVS BY 2030
The company aims to offer wider choices withnew EVs that may straddle a pricebracket of Rs20to 40lakhinthe coming years, writes Ketan Thakkar.
MG Motor India in expansion drive, to invest $100 million
The investment willbe usedtoramp up existing production capacity from1.2to1.4-15lakh units per annum atthe automaker's Halol plantin Gujarat, writes Ketan Thakkar.
"Technology and its multiplier effect are driving business transformations and customer experiences"
Technical Centre India is one of Continental’s largest research and development centres in the world, andasa Centre of Competence’ it also develops customised products for the BRIC countries.
