Mahindra Last Mile Mobility Limited (MLMML) has entered into a strategic partnership with Punjab National Bank (PNB) to boost the adoption of electric commercial vehicles (ECVs) across the country. Through a newly signed Memorandum of Understanding (MoU), PNB will offer tailored and simplified financing solutions for the complete range of Mahindra’s last-mile mobility vehicles, including electric three-wheelers and small commercial EVs, with support extending to ICE variants as well.
Collaboration Aimed at Faster EV Transition
The partnership aims to make it easier for buyers in cities, towns, and rural areas to afford vehicles by offering flexible payment plans, low interest rates, and easy access to credit through PNB’s large network of over 10,000 branches. With electric mobility gaining momentum in goods movement, logistics, and passenger transportation, this tie-up is expected to widen EV penetration significantly among small entrepreneurs, delivery operators, and independent drivers.
Strengthening India’s Last-Mile EV Ecosystem
MLMML recently surpassed the important milestone of 300,000 electric commercial vehicle sales, reinforcing its leadership position in the segment. Its popular EV portfolio—including the Treo series, Zor Grand, e-Alfa, and small cargo EVs—will benefit from expanded financing access, allowing more customers to shift away from conventional fuel-powered vehicles.
Supporting National Sustainability Goals
By improving affordability and ease of ownership, the Mahindra–PNB collaboration aligns with India’s broader clean-mobility roadmap. The move contributes to reduced emissions, enhanced last-mile efficiency, and a smoother transition to sustainable transport solutions across diverse regions of the country.
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