Mahindra Last Mile receives the first tranche of INR 300 crores from IFC

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Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra and Mahindra Limited (M&M), began its commercial operations in September 2023 after finalizing agreements with M&M. The International Finance Corporation (IFC) has invested an initial tranche of ₹300 Crore out of a total commitment of ₹600 Crore, valuing MLMML at ₹6020 Crore.

MLMML, committed to advancing electrification in the mobility sector, will primarily focus on electric 3- and 4-wheelers. Their product portfolio includes vehicles like Treo, Zor Grand, Alfa (3-wheelers), and Jeeto (4-wheeler SCV). Ms. Suman Mishra has been appointed as the Managing Director and CEO of MLMML.

Also Read: IFC to invest INR 600 crores in M&M’s new last mile mobility company to be launched soon.