MLMM Electrifies The L5 Segment

India's electric three-wheeler market, capturing both passenger and cargo vehicles, has surged past the 30 per cent EV adoption mark, an inflexion point, and Mahindra Last Mile Mobility Ltd. (MLMML) continues to lead the charge

- Ashish Bhatia

Recent data highlights a remarkable shift in the Electric Vehicle (EV) landscape, particularly within the L5 category of three-wheelers (L5M and L5N). As of Q1-FY26, EVs surged to represent 31 per cent of all new L5 three-wheeler registrations, a substantial increase from the single-digit percentages observed (-eight per cent) in FY23. This transition is largely attributed to several key factors like fleet electrification, supportive state policies, and market growth. Leading the pack, Mahindra Last Mile Mobility (MLMM) is known to have sold over 50,000 units over the past eight months, driving a significant surge in Electric Three Wheeler (e3W) adoption as a whole! With it, MLMM has surpassed 2.5 lakh commercial EV sales with a wide range spanning three-wheelers and four-wheelers.

HIGHER ADOPTION RATE FOR A REASON

Many operators are transitioning their fleets to electric power to reduce operating costs and meet sustainability goals. Electric three-wheelers offer lower fuel expenses and maintenance costs compared to their Internal Combustion Engine counterparts (ICE). Governments have implemented various incentives to promote EV adoption. These include tax rebates, subsidies for electric vehicle purchases, and infrastructure investments such as charging stations that make it easier for consumers and businesses to switch to electric models.