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Mahindra Last Mile Mobility scouts new factory to double EV three-wheeler capacity

Mahindra Last Mile Mobility is scouting a greenfield or brownfield factory to double capacity as electric three-wheeler demand grows. The Mahindra subsidiary is scaling battery and supplier capacity, reducing China dependence, using Rs 322 crore funding for expansion and targeting an IPO next year.

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Reported figures

From the report. Source details below

75-80% projected electric penetration by 2030

Also in the report

  • 300,000 units per annum existing capacity
  • 40% electric penetration in passenger three-wheelers
  • 40% targeted market share

The source

Source Read the source at ET Small Business

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