Mahindra and Mahindra is all set to bring out the electric variant Maxximo in October this year. It’s another competitive attack for a company that’s dealing with multi segments simultaneously included 2-wheelers, and heavy commercial vehicles. The cheap electric versions are certainly a market that can be profitable for them.
The vehicle follows standard norms and can speed upto 90 km/hr with a 8 hour charge up. Savings will be high but will vary based on cost of electricity unit in different parts of the country. It has a payload capacity of around 600 kilograms. Though there’s no set date yet, M&M is also gearing up to launch electric variant 2-wheelers after starting out with gearless scooters with the Flyte, Rodeo, and Duro brands. Honda Motorcycle and Scooter India too is keen on electric 2-wheelers.
In the meantime the Reva Electric Car Company is negotiating with global Original Equipment Manufacturers in regards to providing technical knowhow in the production of electrical vehicles. M&M is keen on exporting the electric Maxximo to the US, and Europe.
Though the electric vehicle market in India hasn’t reached optimum competition levels yet, growth is pegged at double figures considering low cost maintenance, and ownership, apart from increasing urbanisation and fuel costs.
Manufacturers interested in launching electric vehicles in the Indian auto market include:
- Ultra Motor
- Hero group
- Tube Investments of India
- Lohia group
- Tata Motors
- and General Motors