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21-Nov2017

M&M eyes to increase market share in e-rickshaw segment: Report

Mahindra and Mahindra (M&M) is reportedly eyeing to increase its share in the e-rickshaw segment. The market is primarily dominated by unorganised and local players. With the launch of its 'e-Alfa Mini', M&M becomes one of the first organised players to enter this segment. The e-Alfa Mini is priced at Rs 127,000 (for Bengal market); as compared to indigenous variants that are prices between Rs 75,000 and Rs 100,000.

Moreover, the company has launched its e-rickshaw in Delhi, Lucknow and Bengal and is planning to launch it another seven to eight more markets within this fiscal.

Currently, the company occupies a 30% market share in the small commercial vehicle space that includes both three-wheelers and four wheelers.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.


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