Mahindra Last Mile Mobility Limited (MLMML) has retained its leadership in India’s electric commercial vehicle (EV) segment for the fourth year in a row. In the financial year 2025 (FY25), the company continued to dominate the L5 electric vehicle category, supported by the strong performance of its flagship models, the Treo and Zor Grand.
The L5 segment, which includes three-wheeled electric commercial vehicles, has seen rapid growth. EV penetration in this category rose from 16.9% in FY24 to 24.2% in FY25. MLMML now holds a commanding 37.3% share of the L5 market, outperforming both established competitors and new entrants.
In FY25, MLMML also expanded its product range. It launched the metal-bodied version of the Treo and introduced the Mahindra ZEO—its first electric four-wheeled small commercial vehicle (SCV). The ZEO is expected to boost EV adoption in the 4W cargo vehicle segment, building on the success of MLMML’s electric three-wheelers.
MLMML is a subsidiary of Mahindra & Mahindra Ltd and is currently India’s leading manufacturer of electric small commercial vehicles. Its portfolio includes the Treo series, Zor Grand, and e-Alfa. The company offers a wide range of electric, petrol, CNG, and diesel-powered three and four-wheelers for both passenger and cargo use. Its focus is on providing last-mile mobility solutions that serve both urban and rural markets.
Mahindra & Mahindra Ltd is part of the Mahindra Group, a global conglomerate founded in 1945. The Group employs over 260,000 people in more than 100 countries. It holds strong positions in industries such as farm equipment, utility vehicles, IT services, and financial services. It is also the world’s largest tractor manufacturer by volume.
Beyond its core sectors, the Mahindra Group is growing in areas like renewable energy, agriculture, logistics, hospitality, and real estate. The Group follows strong Environmental, Social, and Governance (ESG) principles. It aims to promote rural prosperity, improve urban living, and inspire communities to “Rise.”
