Mahindra Sees Big Growth in EV Sales, Plans to Expand Further by 2030

Key Highlights:

• Mahindra’s EV sales grew from 14,000 in FY20 to 78,000 in FY25.
• The company plans to increase this number by 2 to 3 times by FY30.
• Treo and Zor Grand helped Mahindra reach 24.2% market share in electric three-wheelers.
• Mahindra launched the Treo with a metal body and the new electric four-wheeler ZEO.
• It now offers electric, petrol, CNG, and diesel vehicles for last-mile transport.

Mahindra & Mahindra (M&M), a Mumbai-based automaker, has seen strong growth in its electric vehicle (EV) sales through its Last Mile Mobility business. The company reported a sharp rise in sales, from 14,000 units in FY20 to 78,000 units in FY25. Looking ahead, Mahindra aims to increase this number by two to three times by FY30, focusing on India’s growing demand for affordable electric transport for first- and last-mile connectivity.

Leadership Insights:

Dr. Anish Shah, Group CEO and Managing Director of M&M, said, “We’ve already grown from 14,000 to 78,000 units in five years. Now, we are aiming for two to three times that growth over the next five years.” He added that this strong performance is part of Mahindra’s plan to build scalable and larger businesses in the electric mobility sector.

Key Role of Treo and Zor Grand in L5 Category

Mahindra Last Mile Mobility Limited (MLMML) has played a major role in electrifying the L5 segment, which includes electric three-wheelers. Its popular models like Treo and Zor Grand have helped the company reach a 24.2% EV market share in the L5 category in FY25, up from 16.9% in FY24. This shows the growing acceptance of electric vehicles in the commercial segment.

New Launches in FY25

In the current financial year, Mahindra expanded its EV product range by launching the Treo with a metal body and introducing the Mahindra ZEO, its first four-wheeler electric small commercial vehicle (SCV). The ZEO aims to continue the success of Mahindra’s electric three-wheelers in the cargo segment and marks the brand’s entry into four-wheeler electric cargo transport.

Wide Range of Last Mile Vehicles

Mahindra’s last-mile mobility lineup now includes electric, petrol, CNG, and diesel vehicles. The company offers both three- and four-wheeler options for passenger and cargo use, giving buyers multiple choices for their transportation needs.

Also Read: Mahindra Zor Grand DV Used for Drone-Based Farming Under NAMO Drone Didi Project

CMV360 Says

Mahindra's strong growth in electric vehicle sales shows that more people are choosing electric and cost-effective transport options. With new models like the ZEO and plans for further expansion, the company is on the right path to lead the last-mile EV market in India.