Mahindra Confirms Launch Of Three Electric Cars

Mahindra has been the first mainstream automaker in India to enter the electric vehicle segment. It took over Bengaluru based Reva in 2010 and renamed it Mahindra Electric. With the E2O Plus now discontinued (due to safety norms), the company has revealed its plans to launch three electric vehicles by 2021.

Mahindra MD, Pawan Goenka confirmed that the following electric cars will be launched by the company:

1. KUV100 Electric (2019 end)
2. XUV300 Electric (2020)
3. Mahindra-badged Ford Aspire Electric (2021)

Currently, Mahindra has e-Verito as the only EV in the line-up and has around 1,500-2,000 units on the road.

“As far as EVs go, the focus is more on three and two-wheelers right now but four-wheelers will catch up. With the 5 percent GST reduction, the business case for EVerito becomes almost even. If, for instance, the 5 percent duty on the lithium-ion cell goes away, then the earnings for a shared mobility service provider will be the same for an e-Verito as well as for any diesel or petrol sedan,” said Goenka.

The GST rate on EVs was reduced to 5 per cent from 12 per cent last month. The same will be done for EV chargers and charging stations shortly.

Apart from Mahindra, Tata Motors has also unleashed its electric vehicle road map for India.