Mahindra & Mahindra subsidiary Mahindra Last Mile Mobility to launch electric four-wheeler, e-ZEO; shares flat

"The name ‘e-ZEO’ stands for "Zero Emission Option," unequivocally conveys the environmental benefits of the electric vehicle. It resonates with the company’s mission: to electrify last-mile transportation and help customers prosper in their lives," the company said in its press release.

It added, "The all-new Mahindra ‘e-ZEO’ will be a compelling EV option in the ICE-dominated SCV category. The ‘e-ZEO’ comes with an efficient high-voltage architecture that gives superior energy efficiency, higher range, and faster charging times. This, along with a compelling cost advantage, will make it the ideal choice for businesses."

ICV stands for internal combustion engine, and SCV is an acronym for small commercial vehicle.

World EV Day, celebrated every year on September 9, marks a global commitment to sustainable transportation. The launch of the ‘e-ZEO’ is a testament to Mahindra’s dedication to advancing this movement and driving the transition to a greener future, the press release said.

The ‘e-ZEO’ will be launched on October 3, 2024.

Commenting on the development, Suman Mishra, MD & CEO of Mahindra Last Mile Mobility, said, "Having led the charge in the last mile electric three-wheeler vehicle space, it gives us immense pleasure to reveal the brand name of our four-wheeler, ‘e-ZEO’, on World EV Day. This name resonates deeply with our purpose and aligns with global efforts to accelerate EV adoption, particularly in the sub-two-tonne category. Backed by the Mahindra trust, the ‘e-ZEO’ is poised to reshape urban logistics and drive prosperity for our customers.”

Post the announcement, shares of parent Mahindra & Mahindra (M&M) were trading flat at ₹2,705.90, up 0.33%.

In a year, shares of M&M have rallied 71%.