Mahindra Last Mile Mobility Ltd., valued up to ₹ 6020 Crore, receives 1st tranche.

October 10, 2023
Views: 581
Spread the word by Sharing:

Mumbai, October 10, 2023: In March 2023, the International Finance Corporation (IFC) committed to invest ₹ 600 Crore (in one or more tranches), at a valuation of up to ₹ 6020 Crore, in a new company housing the last mile mobility division of Mahindra Group. Mahindra Last Mile Mobility Limited (MLMML) was incorporated as a subsidiary of Mahindra & Mahindra Ltd. (M&M), and it commenced commercial operations in September 2023, pursuant to closing of Asset Transfer Agreement and Business Transfer Agreements with M&M. MLMML has since completed other regulatory and procedural requirements and has received the first tranche of  300 Crore from IFC. This partnership with IFC reflects the shared values and ambitions both entities have demonstrated in their commitment to sustainable, inclusive, and clean mobility solutions. MLMML will accelerate the green transition of the automotive industry in support of India’s climate targets.    

MLMML will focus on scaling last mile passenger and cargo transportation solutions. Ms. Suman Mishra will lead MLMML as its Managing Director and CEO.

Subscribe For Latest Updates

Sign up for the latest news and launches straight to your inbox

We promise not to spam you.

Spread the word by Sharing:
EVStory team is group of well seasoned journalists from the e-mobility segment with rich experience in the auto industry.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles from the same category:

Tata Power makes Karnataka EV ready with 220+ RFID enabled EV-charging points across state


Tata Motors launches the all-new Tata Ace EV 1000 


Kia teases new EV3 compact electric SUV


BorgWarner launches Electric Torque Vectoring and Disconnect Systems

1 2 3 150 - India's best EV Portal
Get a complete insight into the latest news, reports, features & in-depth analysis on the EV industry in India
Copyright 2022 EVStory LLP. All rights reserved.