Mahindra EV Sales Up 60% – CORPORATE ETHOS

Mahindra EV Sales Up 60%

By: | June 6, 2019

June 6: Indian car manufacturer Mahindra & Mahindra has announced that, in 2018-19, the company’s sales of e-vehicles grew over two-and-a-half times to 10,276 units. The state-owned EESL had ordered e20 and e-Verito, the delivery of which the company has already begun. Thus the company is showing a hike in the sales of e-vehicles.

E-vehicles like the e2O, e-Verito, the e-Supro commercial van and also the Treo three-wheelers are the ones that are being developed and sold by Mahindra. In 2017-18, Mahindra sold around 4,026 units of these EVs. The number was mentioned by the company in an investor presentation.

Mahindra and its rival Tata received orders for e-vehicles from Energy Efficiency Services Ltd (EESL). They had floated tenders for supplying 10,000 electric sedans for the use of government departments. An incentive of Rs 50,000 will be offered to five lakh e-rickshaws having an ex-factory price of up to Rs 5 lakh. This is done as part of the government’s Rs 10,000-crore FAME-II to promote the use of electric and hybrid vehicles. 

An incentive of Rs 1.5 lakh each to 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh is also offered. An amount of Rs 13,000 each is offered an incentive to 20,000 strong hybrid four-wheelers with an ex-factory price of up to Rs 15 lakh. Mahindra launched its first lithium-ion electric three-wheeler range Treo and Treo Yaari to its EV line-up in November 2018.

Mahindra had made earlier made an announcement regarding the investment of Rs. 500 crores in its Electric Vehicle Project under the new EV Policy of the Government of Maharashtra as part of its expansion plans. The investment is part of the current expansion plan in Chakan which includes an initial investment of Rs. 6,500 crores.

Investment of Rs. 500 crores will be made use for product development and capacity enhancement for electric vehicles and related components. Powertrains ranging from low voltage like 48 kW and 72 kW will also be introduced by Mahindra. High voltage like 380 volts and 650 volts and power ranging from 90 kW (120 bhp) to 150 kW (210 bhp) are also available.