Mahindra merges EV business with itself for simplifying business structure

Mahindra and Mahindra’s Board of Directors has granted an in-principle approval for consolidating Mahindra Electric Mobility Limited, a step- down subsidiary into the company.

The company said the move will help simplifying the structure and drive improvements through innovation, execution excellence, efficiencies and economies of scale. M&M said in a statement. It will unlock shareholder value, too.

The consolidation would categorize electric vehicle (EV) operations in two focused verticals: Last Mile Mobility (LMM) and Electric Vehicle Tech Centre. LMM vertical will have complete ownership of value chain for last mile mobility solutions to drive growth and execution.