Mahindra e2o price has been reduced drastically courtesy of Indian Government sanctioning the new FAME scheme. Ex-showroom prices of both variants of e2o have been cut by well over Rs. 1.5 lakhs.
Said FAME scheme subsidises electric vehicles, utilising the Rs. 795 crore fund the Government of India sanctioned for Phase 1 of the programme. This is allotted for fiscal years 2015-16 and 2016-17. The incentives vary for each category of hybrid and electric vehicles, in short, by some extent all eco-friendly vehicles utilising electricity for moving the wheels get some amount of relaxation which will reflect in final retail price.
The limits of FAME incentives are:
Rs. 1,800 to Rs. 22,000 for hybrid / electric scooters
Rs. 3,500 to Rs. 29,000 for hybrid / electric motorcycles
Rs. 13,000 to Rs. 1,24,000 for sub-4-metre hybrid / electric four-wheelers
Rs. 11,000 to Rs. 1,38,000 for hybrid / electric four-wheelers spanning over 4 metres in length
Therefore, prices of Mahindra e2o are reduced to Rs. 4.99 lakhs (ex-showroom, Mumbai) for entry-level T2 variant which was priced Rs. 6.76 lakhs, and Rs. 5.38 lakhs for premium T2O Quick2Charge variant which used to be labelled with Rs. 7.12 lakhs.
These revised prices are above any other offers or incentives that were provided for Mahindra e2o. Currently, benefits on Mahindra e2o are offered in Delhi and NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Ahmedabad, Chennai, other smart cities and those cities containing over 10 lakh population (as identified by the Government).
However, buyers will still have to subscribe to battery leasing scheme, at Rs. 2,999 per month, to be relieved of having to worry about maintenance cost of the battery pack.