Mahindra Last Mile Mobility has introduced the Udo electric rickshaw, the first product from a new modular EV platform developed at an investment of over Rs 500 crore. The brand currently commands around 39% market share in the electric L5 three-wheeler segment. Electrification in the category has surged to 35% from just 8% three years ago, reflecting a rapid structural shift.
Aviation-Inspired Design
The Udo is powered by 11.7 kWh lithium-ion battery pack, offering a real-world range of 200 km. “With the Udo, we are addressing a segment that needed longer range, particularly customers operating beyond city limits,” said Suman Mishra, MD & CEO. Internally codenamed A301, the UDO is priced at Rs 3.58 lakh.
Battery Ownership vs. BaaS
In order to push sales, Mahindra has introduced attractive financing schemes over battery-as-a-service (BaaS) for the Udo . “While BaaS was introduced in 2023 through partners for some of our products, uptake has remained limited as most commercial buyers prefer battery ownership with the vehicle”, said Mishra.
The UDO comes with a warranty of 1.5 lakh km or six years and Rs 20 lakh accidental insurance cover. The company has added battery and vehicle production capacity of up to 2 lakh units annually at its Zaheerabad facility. It also operates plants at Haridwar and Bengaluru. Exports remain modest for now, with select model shipments to Sri Lanka, Nepal and select African markets, though the company aims to scale overseas presence over time.