Mahindra to enter electric small commercial segment

Mahindra & Mahindra announced on Thursday its entry into the small electric commercial category to meet last-mile transportation needs, PTI reported.

The business unveiled the ZEO electric four-wheeler in the smaller than 2-tonne market, with a starting price of Rs 7.52 lakh (ex-showroom).

In an interview with PTI, Mahindra Last Mile Mobility MD and CEO Suman Mishra stated that electric products provide substantial value to consumers compared to diesel products in the market over a seven-year timeframe.

Currently, the small electric commercial segment (less than 2-tonne commercial vehicle market) is 1% electrified. Approximately 20% of three-wheelers are electric. So the company’s goal is to boost the electrification figure and then grab a fair part of it, according to Mishra.

She added that the business currently has a 14-15 per cent market share with Jeeto in the conventional small commercial vehicle class.

Mishra stated that the business has already received orders for around 12,000 units of the model, which has a range of 160 miles on a single charge.

"The Mahindra ZEO is a perfect testament to our ethos of reimagining the last-mile ecosystem with innovative technologies, reliable products and integrated solutions," according to Mishra.

The business is hopeful that the model would assist in speeding the adoption of electric vehicles in the commercial vehicle category weighing less than two tonnes, according to Mishra. 

Mahindra Last Mile Mobility Ltd is a division of Mahindra and Mahindra Ltd.