- 30 Aug 2022
- ICICIdirect Research
M&M launches E-3W in cargo segmentM&M - 1143 Change: -7.85 (-0.68 %)
News: In a regulatory exchange filing, M&M Informed exchanges about the launch of new E-3W “Zor Grand” at ex-showroom price of Rs 3.6 lakh (ex-showroom Bangalore). It would have battery (Li-On) capacity of 12 KwH and range of >=100 kms on single charge. Zor Grand comes with the NEMO connected vehicle platform for fleet management and better operational efficiency as well as an all-digital instrument cluster. The vehicle comes with five years/150000 km battery warranty.
View: This come as a positive development as the company enjoys >70% market share in E-3W segment (passenger space) with cargo place now in focus with this launch. Also M&M has already banged 12000+ bookings of the Zor Grand through strategic MoU with logistic companies like Mahindra Logistics, Magenta EV Solutions, MoEVing, EVnow, Yelo EV, Zyngo and more. The company has claimed savings up to Rs 6 lakh in ownership costs in five years vs. diesel powered vehicle and up to Rs 3 lakh vs. CNG powered cargo 3-W. This launch will further help M&M consolidate its leadership position in the E-3W space.