Mahindra Electric Mobility, one of the countries largest electric vehicle(EV) manufacturers is in preliminary talks with japanese giant soft bank for an alliance which could include taking minority stake in the company.
The company, in which Mahindra &Mahindra (M&M) is the key investor, publicly announced a few weeks ago that it would look for a private equity investor or a strategic investor to scale up its operations,though M&M will continue to stay a big investor.
Mahindra electric mobility sold over 10,400 EVs on 2018-19
Nearly a dozen of the coming vehicles are in the affordable segment costing less than rs 10lakh.
This massive vehicle electrification drive
is being led by Indian vehicle makers — Tata Motors and Mahindra & Mahindra
— who will be launching half of these models with an eye on addressing the loc Mahindra’s
has stepped up focus on electric three wheelers for last mile mobility.
E-rickshaws are predominantly sold in North India and are one of the most
effective means of last mile connectivity as well as being a cheaper mode of
transportation. The battery-powered rickshaw has been replacing cyclic rickshaw
with sales, growing at an average rate of 20% annually since 2015. However most
of these sales have come from the Unorganised sector and what is giving a fillip
to the Unorganised sector.
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