Mahindra and Mahindra has revised the price of its electric offering, the e2o, after the Govt launched a scheme for hybrid and electric vehicles.
The prices of the car has been reduced by INR 92,000. Mahindra hopes this will help boost the sales number which could further help in reducing the price. The reduction in cost of 16% will help get more enthusiastic buyers who shied away form the car due to its price tag.
The e2o will not cost INR 4.79 lk in Delhi where it cost 5.71 lk before.
This comes under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles, FAME, from the Govt’s National Electric Mobility Mission Plan 2020. Although this has come very late to the Indian shores, it is a good move no matter what. Similar scheme in China resulted in a 400% growth for hybrid and electric vehicles.
The Mahindra e2o, formerly the Maini Reva, is Indias first electric vehicle born from the hardwork and perseverance of Chetan Maini, who is now the CEO of Mahindra-Reva. He will however leave this position to incubate new technology from within the company and Arvind Mathew will step in as CEO.
Last year the Mahindra e2o sold just 600 units in the country.