Mahindra Logistics inches up by nearly 3 per cent on launching electric last-mile delivery service

Integrated third-party logistics (3PL) service provider, Mahindra Logistics Limited (MLL) announced the launch of its cargo last-mile delivery service under the brand name ‘EDel’. With this, the company entered into a new service line of sustainable last-mile logistics in e-commerce, FMCG, and other markets.  

Edel, which aims to be the first pan-India service for high-end cargo EVs for last-mile delivery would initially operate across six major cities in India including Bengaluru, New Delhi, Mumbai, Pune, Hyderabad and Kolkata, before expanding to a total of 14 cities in the next 12 months.  

The service will provide multiple offerings including package & trip-based services. These offerings will provide customers with a scalable, sustainable, and cost-efficient solution as compared to traditional ICE-powered solutions. With a load capacity and enhanced range that compares well with the existing ICE options, EDel aims to give a significant edge in the efficient & responsible distribution as well as last-mile delivery solutions to its customers in the e-commerce, FMCG, pharmaceutical, consumer durables, and electronics industries.

Commenting on the launch, Rampraveen Swaminathan, Managing Director & CEO, Mahindra Logistics stated that the demand for last-mile services continue to grow across India. He further added that the company believes electric vehicles would provide an ideal long-term solution for the emerging imperatives around sustainability & cost-effectiveness.   

On Friday, the stock of Mahindra Logistics closed at Rs 432 per share, up by 2.43 per cent or Rs 10.25 per share on BSE. Its 52-week high is Rs 457.90 while the 52-week low is Rs 199 on BSE.