The board of directors at Mahindra & Mahindra Ltd has given in-principle approval for consolidation of Mahindra Electric Mobility in the company.
Mahindra Electricity Mobility is a step-down subsidiary of M & M. The consolidation will categorise EV operations in two focused verticals — last mile mobility (LMM) and electric vehicle tech centre.
“Simplifying the structure will drive improvements through innovation, execution excellence, efficiencies and economies of scale,” M & M said in a statement. “Additionally, it will unlock shareholder value.”
The initiative will provide LMM vertical with complete ownership of the value chain for last-mile mobility solutions to drive growth and execution.
