Mahindra set to drive in its first electric truck in 2025
Ashok Leyland’s ieV series of electric trucks in the sub-3 tonne segment. The market for small and light electric commercial vehicles, though at a nascent stage, is rapidly expanding as large fleet operators are seeking emissions-friendly technologies for last-mile deliveries. This shift is driven by mandates to phase out polluting commercial vehicles, evolving emissions-related regulations, and as the fleet operators pursue improved cost efficiencies.
Mahindra’s market share in the light commercial vehicles category was 47% in November, making it the largest player in the segment. Tata Motors followed at 31.2% market share in the same month, data compiled by Federation of Automobile Dealers’ Association showed. The Tata Ace EV is the electric adaptation of Tata’s top-selling small commercial vehicle in 0-1 tonne category, the Tata Ace.
In contrast, Ashok Leyland’s electric mobility arm, Switch Mobility, is built on a dedicated electric platform designed for the 2-3.5 tonne segment. In this segment, M&M commands an over two-thirds market share. These vehicles cater to last-mile delivery of goods, following a hub-and-spoke model on clearly defined operational routes.
They find application across sectors, including e-commerce, fast-moving consumer goods, and agriculture. M&M may look to capitalize on the production-linked incentive (PLI) scheme for automobiles for its LCVs. It enjoys PLI benefits for its lithium-ion battery-powered electric three-wheeler cargo vehicles.
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