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Mahindra and Mahindra Limited

Mahindra e2o now more Affordable with the New Government Incentive

Apr 28, 2015   18:48 IST 
Mumbai, Maharashtra, India
  • Central Government’s FAME Scheme (Faster Adoption and Manufacturing of Electric Vehicles) puts into motion better affordability for electric vehicles

  • Mahindra e2o to cost Rs 4.79 lakhs (On road Delhi), a reduction of 16% over the old price

  • Charging infrastructure to be widened and made more accessible under FAME

 

Mahindra Reva Electric Vehicles Pvt. Ltd., a part of the USD16.5 billion Mahindra Group, today announced that its automatic electric vehicle Mahindra e2o, will now be available inclusive of the FAME demand incentive. The technologically laden e2o that ushers in the future of mobility, would now cost Rs 4.79 lakhs (On road Delhi) in addition to a fixed energy fee of Rs 2999 per month for 5 years or 50,000 km,  which is a reduction of 16% over old price. This is a direct result of the Government’s recent announcement of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Scheme.

 

Under the aegis of the FAME Scheme, there will be special focus on investments in R&D, incentives for demand creation, setting up of charging infrastructures and rolling out of Electric Vehicle pilot projects. An upsurge in publicly available charging ports is expected besides the existing ports that have been set-up by the company. A normal charge port can also be installed at home in addition to charging points available across the country. Mahindra Reva has installed more than approximately 300 easily accessible charge ports across the country till date.

 

Today, energy security and air pollution in cities have emerged as important considerations for large and growing economies like India. Further, the current Air Quality Index paints a grim picture of the air we breathe in cities, which is largely a result of vehicular pollution. Pinning these issues, the Government’s FAME Scheme (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) will tackle the twin issues of energy security and environmental pollution.

 

Speaking on the issue, Pravin Shah, President & Chief Executive (Automotive), Mahindra & Mahindra said “We welcome this important, progressive and timely initiative from the Central Government and the Ministry of Heavy Industries which has the potential to boost the EV industry in India and put it high on the global map. The benefits of the scheme in terms of demand incentives will be passed on to our customers, thereby making the e2o a more compelling and  viable choice for mobility. Further, with the intervention of the government towards increasing charging infrastructure coupled with our technological updations, we hope to address range anxiety, accelerate EV awareness and expand our network across the country. Going forward with the formulated policies in place, I am confident that India is set to witness a shift in changing lifestyles and a spurt in electric vehicle takers”.

 

A pioneer of Electric Vehicles and integrated mobility solutions in India, Mahindra Reva would further demonstrate the advantages of electric mobility across the country and continue to build an eco-system for electric mobility in India, at par with its foreign counterparts. Mahindra e2o can be purchased from various dealer showrooms across the country. Alternately, a test drive can be booked through an online Test Drive Scheduler, developed by Mahindra Reva.

 

About Mahindra Reva

Mahindra Reva is a pioneer of electric vehicle (EV) technologies and one of the world’s most experienced EV manufacturers. Founded in 1994 as the Reva Electric Car Company, the company was a joint venture between the Maini Group of Bangalore and AEV LLC of USA. Since then, the company has remained focused on creating affordable electric cars through advanced technology. It launched its first model in India in 2001 and in London in 2004.

 

In May 2010, the USD 16.5 billion, Mahindra Group acquired a majority stake in the company, which was then renamed to Mahindra Reva Electric Vehicles Pvt Ltd. Mahindra Reva is headquartered in Bengaluru, India.

 

Mahindra Reva exemplifies the Mahindra Group’s vision of the Future of Mobility. The Future of Mobility envisions an automotive ecosystem that brings Clean, Convenient, Connected, Clever and Cost-effective (the 5 C’s) mobility solutions to customers across the world. Today, Mahindra Reva has one of the world’s largest deployed fleets of electric cars – customers in 24 countries have driven their Reva and Mahindra e2o fuel-free for more than 200 million kilometers. The company manufactures cars, licenses out its electric vehicle technologies, electrifies existing platforms, and helps to deliver integrated zero-emissions mobility solutions. The company’s new factory in Bengaluru is the first automobile plant to receive a platinum rating from the Indian Green Building Council. Inaugurated on August 22nd 2012, it can produce 30,000 cars each year.

 

Mahindra Reva was ranked 22nd in the prestigious ‘Fast Company’ magazine listing of the Top 50 Most Innovative Global Companies of 2013, in addition to numerous awards and recognition. The company also won the ‘Innovation’ award from respected Italian magazine- Focus, during March 2013. It is one of the only three global companies to have received this award for the development of the ‘Mahindra e2o’ and its environment friendly plant at Bengaluru.

 

Visit us at www.mahindrareva.com

 

About Mahindra:

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

 

A USD 16.5 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractorsutility vehiclesinformation technology, financial services  and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

 

In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.

 

Visit us at www.mahindra.com


Media Contact Details
Ruzbeh Irani
Mahindra Group
+91 22 2490 1441
 
 
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