New Delhi: Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra & Mahindra, said it is going to increase its focus on exports during the next year.
“Our exports are very nominal. We have only begun to scratch the surface of high scale markets, so this is one of our priorities for the next financial year. As we scale up, it is going to be a key pillar of our strategy,” Suman Mishra, CEO & MD, MLMML, told ETAuto.
In FY26, it aims to create a strong presence in at least 1-2 major markets to have a sizable export business. However, as the company evaluates global markets, a lot will depend on determining the adequate shipment costs, import duty, local homologation compliance and meeting the local assembly norms.
Currently, the three wheeler maker exports just about 100 units of its products annually to four geographies, namely Nepal, Sri Lanka, UK and Brazil.
While the South Asian markets serve as a potential opportunity, in the developed markets like the UK, three wheelers are mostly deployed as recreational vehicles for hospitality travel and leisure.
Production
Recently, Mahindra Last Mile Mobility announced it has clocked cumulative sales of 2 lakh EV units since its launch. Its product portfolio includes the Mahindra Treo range, e-Alfa range, and Zor Grand three wheelers. Last month, it marked its foray into the eSCV segment with the electric four wheeler cargo EV Zeo.
When asked about the company’s aim to clock another 2 lakh units, Mishra said, “Two and a half years should be a good target, assuming that there is a growth curve in the industry, or three years in the worst case scenario.”
The company has three manufacturing plants – Bengaluru, Haridwar and Zaheerabad. It is in the process of increasing the production by 50%, which should be completed by January.
Second-life of EV battery
In an attempt to build the electric vehicle (EV) ecosystem, the company is also open to partner with battery recycling companies.
Presently, Mahindra Last Mile Mobility has been working on pilot projects with 3-4 industry players and financiers to offer solutions for second-life of its batteries. ETAuto learns that one of the partners is Attero Recycling.
“The recycling process is quite sorted but the repackaging stage is critical. By the next 6-9 months, we should be ready to offer this to the market,” Mishra said.
“If any ecosystem partners are keen to partner with us on this, we will be more than welcome to do it,” she added.
In the passenger vehicle segment, JSW MG Motor is also working on a pilot project in collaboration with Vision Mechatronics. Under the partnership, the former will provide damaged EV batteries to the latter which will repurpose it with a homegrown BMS for second-life usage.
To learn more about the electric vehicle ecosystem and meet the key industry leaders, click here.
