Mahindra LMM becomes India's leading electric 3-wheeler manufacturer in FY23.
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Mahindra LMM becomes India's leading electric 3-wheeler manufacturer in FY23.

Mahindra LMM sold 36,816 EVs and had a market share of 14.6% in the electric 3-wheeler segment in FY23.

Mahindra Last Mile Mobility (LMM), a division of Mahindra & Mahindra, has solidified its position as the top electric three-wheeler manufacturer in India for the fiscal year 2023. LMM’s impressive performance during this period has catapulted its market share and sales figures to new heights.

According to official data, LMM reported sales of 36,816 electric vehicles (EVs) during FY23, a substantial increase from the previous year’s performance of 17,522 units. This surge in sales reflects LMM’s growing dominance in the electric three-wheeler market, with the company now commanding a 14.6% market share, compared to 7.6% in FY22.

LMM’s success can be attributed to several key factors. Firstly, the company has established an extensive network of 1,150 touchpoints across India, ensuring easy access to sales, service, and support for customers. Additionally, LMM’s proactive approach to building infrastructure has resulted in the setup of over 10,000 charging stations, facilitating convenient and hassle-free charging for EV owners.

Undoubtedly, the Mahindra brand’s reputation for reliability has played a crucial role in LMM’s achievements. Customers have placed their trust in Mahindra’s electric three-wheelers, recognizing their quality, performance, and value for money. As a result, LMM has successfully retained its position as the leading EV manufacturer in the three-wheeler segment.

A major milestone for LMM in FY23 was the introduction of the Zor Grand, a powerful three-wheeler EV that has garnered immense popularity. Within a year of its launch, the Zor Grand contributed to an impressive order book of over 23,000 units. Alongside this new addition, LMM’s electric portfolio comprises the Treo range of vehicles and the Alfas, including the Mini and Cargo models.

Building upon the trust instilled by its customers, Mahindra LMM has surpassed the remarkable milestone of selling over one lakh (100,000) three-wheeler EVs till date, further solidifying its position as the foremost manufacturer in this segment.

Among LMM’s product lineup, the Mahindra Treo, powered by lithium-ion batteries, continues to lead the electric auto market. In its cargo version, the Treo Zor and Zor Grand dominate their segment with a commanding 32% market share.

In a recent development, the Haridwar plant celebrated the rollout of the 50,000th Mahindra eAlfa, marking yet another achievement for LMM. Moreover, to meet the growing demand for its electric autos, LMM has announced the addition of a new production line at its Haridwar facility. Simultaneously, expansion work has commenced at the Zaheerabad plant, which will cater to the manufacturing of electric three- and four-wheelers for last-mile mobility.

Suman Mishra, CEO of LMM said “In FY23, we continued our market leadership in electric 3-wheelers with the highest market share. In June ’23, we have also reached the milestone of one lakh EV sales reflecting our deep experience and leadership in this space. We continue to work to provide innovative, sustainable, and affordable last mile mobility solutions, which help enhance the lives of our valued customers, while contributing to the country’s carbon emission goals.”

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