Mahindra auto 150 crore investment for electric Verito sedan, Gio and Maxximo
Mahindra and Mahindra’s electric e2o is a big and bold story in India, and though it may not have achieved the best numbers soon after launch, electric is here to stay for the company. The pressing need for alternative fuel systems in future, and alternative mobility, Mahindra is now planning additional offerings in the electric engine category.
M&M will soon be launching their electric versions of Gio, Maxximo and Verito sedan for which the company has invested a total of INR 150 crores. The prototype of the electric Verito is being developed while the Maxximo electric variant is ready. 50 electric Maxximos are ready and will be launched following response to the e2o. Verito is a heavier vehicle as compared to the e20 and needs work as of now. While the company is still working on its technology they state that the vehicle will be ready for launch in about a year.
Mahindra Reva E2o has caused much excitement in the market but sales are not upto expectations and the company is hoping that other cities in India also come up with Government aided state subsidies like in Delhi to prompt people to purchase this electric vehicle. Export of the e2o is scheduled Europe by year end. The e2o is launched at a price of INR 5.96 lakhs (on road Delhi) where it is available with state government subsidy of 29%. M&M President (Automotive and Farm Equipment Sectors) Pawan Goenka expects 400-500 units of the Mahindra e2o to sell each month in India.
M&M President (Automotive and Farm Equipment Sectors) Pawan Goenka said, “We will be using the electric vehicle technology to some of our existing products. We are almost ready with the electric Gio and Maxximo, while we have also developed a prototype for the electric Verito.” He added, “The prototype is ready. Verito is a heavier car than the e2o. There has to be adjustment and optimisation of the technology, and we will be ready to launch it in a year’s time.”
On the export front, he said: “M&M has got enquiries from Europe, mainly the Scandinavian countries, for e2o. In another 8-9 month’s time, we will start exporting it to Europe. We see the Northern Europe as a primary market for e2o.”