Electrification in last-mile mobility now at inflection point: MEB head

Suman Mishra, CEO, Mahindra Electric Mobility attributes development to Fame II policy, which has turned out to be a game-changer and makes the total cost of ownership neutral for customers

The electrification in the last mile mobility segment (including two- and three-wheelers) has reached an inflection point, said Suman Mishra, chief executive, Mahindra Electric Mobility (MEB). “It was 2 per cent last year, 7 per cent this year and would easily reach 30 per cent penetration level by 2025 if there are no major changes,” said Mishra.  

She attributed it to FAME II policy, which has turned out to be a game-changer and makes the total cost of ownership (TCO) neutral for the customers. “Now with the state subsidies, increased fuel costs and lower cost of EVs, TCO of an