In a significant move towards fostering sustainable mobility solutions, the International Finance Corporation (IFC) confirmed an investment of ₹300 Crore in Mahindra Last Mile Mobility Limited (MLMML). The investment comes as part of a commitment made in March 2023, where IFC pledged to invest ₹600 Crore in one or more tranches, valuing the new venture at up to ₹6020 Crore. MLMML, a subsidiary of Mahindra & Mahindra Ltd. (M&M), initiated its commercial operations in September 2023, following the finalization of Asset Transfer Agreement and Business Transfer Agreements with M&M.
Emphasizing shared values and aspirations for clean and inclusive mobility, this partnership between MLMML and IFC signifies a mutual dedication to sustainable transport solutions. MLMML, under the leadership of Ms. Suman Mishra as Managing Director and CEO, is poised to play a pivotal role in advancing India’s climate targets by promoting last mile passenger and cargo transportation initiatives. This investment not only marks a significant milestone for MLMML but also underlines the collective commitment towards accelerating the green transition in the automotive industry.
