Mahesh Babu, CEO and MD of Mahindra Electric Mobility (MEML), has unexpectedly stated that he will leave down to pursue interests outside the firm. As a result, Suman Mishra, senior vice president, business transformation, insight and analytics, automotive sector, will take over as CEO of MEML and CEO designate of the Last Mile Mobility division with effect from APRIL 1.
Mishra is described as a transformation specialist with competence in strategy and alliances, according to experts. Martin Murray, the company’s CTO, is also expected to leave; according to reliable sources. Mahindra’s electric vehicle business is clearly at a crossroads.
While Mahindra has yet to break into the personal electric vehicle market, it is gaining ground in last-mile transportation with its three-wheelers and smaller four-wheelers for goods and people transport, such as the Treo line and the eAlfa.
Mahindra’s electric vehicle business is clearly at a crossroads.
While Mahindra has yet to break into the personal electric vehicle market, it is gaining ground in last-mile transportation with its three-wheelers and smaller four-wheelers for goods and people transport, such as the Treo line and the eAlfa. Experts believe that because the car major just combined Mahindra Electric into Mahindra, it will not require external investment in the business. Mahindra & Mahindra Limited integrated Mahindra Electric Mobility Limited (MEML), a step-down subsidiary, into the business earlier in March 2021.
The goal of the consolidation was to divide EV activities into two distinct verticals: Last Mile Mobility (LMM) and Electric Vehicle Tech Centre. “Electric vehicles will be the future of the automotive business,” said Rajesh Jejurikar, executive director of Mahindra & Mahindra Limited. We feel that EV should be part of the core and mainstream business to be future-ready.”“This consolidation effort is part of our EV strategy, which aims to electrify a variety of segments in order to popularise e-mobility. He had stated, “We will continue to draw on our strong understanding of customer demands to develop interesting new solutions in the EV area.”
The restructuring will give the LMM vertical entire control over the value chain, allowing it to drive growth and execution. While investigating collaborations and alliances, it will also provide the EV Tech Centre with the depth of resources and synergy with M&M’s bigger ecosystem of product development capability in MRV, North America, and Europe.
