Mahindra merges EV business with itself for simplifying business structure

Company says consolidation would categorize EV operations in two verticals, help in unlocking shareholder value.

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. It will also