Mahindra Last Mile Mobility stays ahead in India’s electric three-wheeler wave riding on product innovation, financing and service

Mahindra Last Mile Mobility (MLMM) is reinforcing its leadership in the electric commercial vehicle segment in India by focusing tightly on three pillars: the right product, accessible financing, and a wide service reach. With electrification in the L5 three-wheeler segment already around 32% year-to-date, MLMM sees plenty of runway ahead even though it retains a strong market share.

The company emphasises that winning in this category isn’t just about manufacturing the vehicle, it’s about offering value across the lifecycle. MLMM points to its in-house technology localisation, broad finance tie-ups for down-payments and ownership, and a service network of some 800 touch-points, especially in Tier 2 and Tier 3 markets.

Their strategy also adapts to changing customer profiles. While fleets and delivery operators remain important, MLMM sees growth now shifting toward captive business vehicles and smaller enterprise fleets rather than just large e-commerce operators. The company is also preparing for the secondary market for EVs – pilot programmes are underway to assess battery residual value, resale strategies and repair infrastructure.

On performance: MLMM has crossed the 3 lakh electric vehicle sales milestone and has sold its last 1 lakh EVs in just 12 months, signalling accelerating adoption. Their range of models from the Treo line, Zor Grand to the e-Alfa cargo rickshaw is broad, and the company continues to upgrade services such as its NEMO platform for vehicle monitoring, insurance cover schemes and mobile service vans.

That said, MLMM recognises that the path ahead still has challenges. As competition intensifies in the EV three-wheeler space, the company’s aim is not simply to hold share, but to maintain momentum through continuous product enhancements, funding options and service excellence. The strategy signals that the last-mile EV story in India is entering a more mature phase.