annual-report-FY2021

35 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2020-21 Our Pursuit to FutuRise For 75 years, we have catered to the needs, wants, and aspirations of both urban and rural India with our products. We understand the diversity of their needs, and that those needs can be addressed by the singularity of our purpose – to empower people to Rise. This commitment is underlined by our thrust in the areas of design capabilities, electric mobility, and digital transformation. The Mahindra Group would set up Mahindra Advanced Design Europe (M.A.D.E) in the West Midlands, UK, to significantly enhance its design capabilities to global scale. This new Centre of Excellence (CoE) will be a part of the Mahindra Global Design Network that includes the Mahindra India Design Studio (MIDS) in Mumbai, India, and Pininfarina Design in Turin, Italy. Advanced Design Centre for Mobility Products M.A.D.E is a strategic enhancement of Mahindra's global design capabilities and renews its commitment to bring to its customers sophisticated, authentic SUVs with a commanding presence. M.A.D.E and MIDS will contribute to all future automotive and mobility products, including Born EV SUVs, entire range of light & heavy commercial vehicles, small commercial vehicles including pick- ups, products of Last Mile Mobility (LMM), Peugeot Scooters (France), and tractors & farm machines, and also act as a resource available to Mahindra Group companies. Mahindra is one of the pioneers of electric mobility in India. Our EV (electric vehicle) journey started over 20 years ago when we introduced Bijlee, considered India's first commercial and roadworthy electric vehicle. Delivering on the Promise of Electric Mobility Mahindra EVs have already completed over 295 million electric kilometres on Indian roads and have saved over 29,500 metric tons of CO emissions in India, an 2 equivalent of planting 1.35 million trees. Several steps have been taken in the reporting year to accelerate the pace of EV penetration in Indian markets. This includes consolidation of structure, MoU, partnerships, and new launches. Consolidation to unlock value The Board of Directors of M&M Ltd. has granted approval for the consolidation of Mahindra Electric Mobility Limited into the Company. The consolidation would: Ÿ Simplify the structure and drive innovation, efficiency, and manufacturing excellence while unlocking more shareholder value Ÿ Categorise EV operations in two focused verticals: Last Mile Mobility (LMM) and Electric Vehicle Tech Centre Ÿ Provide LMM vertical with complete ownership of value chain for last-mile mobility solutions to drive growth Ÿ Provide EV Tech Centre with the depth of resources and synergy with M&M's larger ecosystem of product development capability Collaboration to Tap into Growth Opportunities Amazon India partnered with Mahindra Electric to help fulfil its commitment towards electric mobility. This is in line with Amazon India's commitment that its fleet of delivery vehicles will include 10,000 electric vehicles by 2025 in India. The Mahindra Treo Zor vehicles have been deployed in seven cities so far with Amazon India's network of Delivery Service Partners. M&M also signed a memorandum of understanding (MoU) with REE Automotive to explore the development and manufacturing of electric commercial vehicles for global markets. This collaboration will leverage REE's corner module and modular platform technology and Mahindra's vehicle design, engineering, sourcing capability, and manufacturing assets. Treo Zor – India's No. 1 Selling Electric Cargo Mahindra Treo Zor, the cargo variant of the electric 3-wheeler Treo model, surpassed the sales milestone of 1,000 units within just six months of launch and was awarded the coveted 'Best th SCV of the Year' at the 12 edition of Apollo CV Awards.