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Mahindra LMM Weighs Capacity Expansion as Three-Wheeler EVs Surge
More people and businesses are choosing electric three-wheelers.
Mahindra Last Mile Mobility says it may nearly double how many vehicles it can make.
It also plans to introduce eight new models or versions.
The company has already sold more than four lakh electric commercial vehicles.
It expects about half of L5 three-wheelers to be electric this quarter.
Electric cargo vehicles are less common today, but the company expects their use to grow.
Some customers have been slow to choose battery leasing because they prefer to own the whole vehicle.
LMM says its vehicles have travelled more than nine billion kilometres and helped avoid about 1.85 lakh tonnes of carbon dioxide emissions.
Mahindra Last Mile Mobility is evaluating a near-doubling of manufacturing capacity and plans eight new products and variants.
The company has around 200,000 vehicles of installed capacity at its Zaheerabad facility in Telangana.
LMM reported more than 80,000 EV sales through September, up 58%, and crossed four lakh cumulative EV sales in Q2 FY27.
LMM holds 37.7% of the L5 EV market and expects electrification in that category to reach about 50% this quarter.
The company expects L5 cargo electrification to reach at least 50% by FY30; its Battery-as-a-Service offer has seen modest adoption.
- Who
- Mahindra Last Mile Mobility (LMM), led by MD and CEO Suman Mishra.
- What
- LMM is evaluating nearly doubling manufacturing capacity and plans eight new products and variants amid rising three-wheeler electrification.
- Where
- LMM's main manufacturing hub is Zaheerabad, Telangana; it is also assessing expansion options beyond the facility.
- When
- The company reported crossing four lakh cumulative EV sales in Q2 FY27 and expects L5 electrification to reach around 50% this quarter.
- Why
- LMM says electrification is advancing faster than expected, prompting the company to consider further capacity investment.
Capacity expansion
Cautious investment
Responding to faster EV adoption
Capacity expansion
LMM says electrification has outpaced earlier expectations and is evaluating nearly doubling capacity, alongside eight new products and variants.
Cautious investment
The company has not committed to a specific expansion, and is still evaluating brownfield and greenfield options beyond Zaheerabad.
Battery-as-a-Service
Capacity expansion
The offering gives passenger three-wheeler customers an alternative to buying the battery outright.
Cautious investment
Adoption has been modest, as customers prefer complete ownership and are reluctant to manage multiple financing obligations.
Key facts
- Current installed capacity
- Around 200,000 vehicles at Zaheerabad
- Planned products
- Eight new products and variants
- EV sales through September
- More than 80,000, up 58%
- Cumulative EV sales
- More than four lakh in Q2 FY27
- L5 EV market share
- 37.7% overall; 37.5% in the L5M sub-category
- L5 cargo electrification
- Around 12.7% currently; LMM expects at least 50% by FY30
- Fleet distance and emissions
- More than nine billion kilometres travelled; approximately 1.85 lakh tonnes of CO2 emissions avoided
Quotes
Suman Mishra
Managing Director and CEO of Mahindra Last Mile Mobility
“Cargo represents the next phase of growth. Electrification in L5 cargo currently stands at approximately 12.7%, and we expect this to reach at least 50% by FY30.”
financialexpress.com
“The pace of electrification in the L5 category has confirmed our own projections. We are looking at around 50% electrification this quarter.”
financialexpress.com
Sources
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