Mahindra Reva e2o EMI of Rs 12,802 takes running cost to Rs 9.18 lakhs

mahindra reva e2o emi schemeMahindra Reva e2o was introduced in Delhi last month with an attractive on-road price of Rs 5.96 lakhs. But, for EV lovers in other states of the country, e2o’s price ranges from Rs 7.5 lakhs to Rs 8 lakhs. The reason behind this indifference, only Delhi Govt. offers subsidy.

At the e2o launch in Chandigarh, Mahindra Reva revealed a new EMI scheme. Under this, you can buy the e2o for a down payment of Rs 1.5 lakhs and an EMI of Rs 12,802 for a period of five years. This takes the running cost of e2o to Rs 9.18 lakhs, for the base model which is priced at Rs 7.60 lakhs (ex-showroom, Chandigarh). This price tag also makes the e2o a not so cost-efective options against other petrol and diesel hatchbacks in the segment. Here is a cost of ownership comparison between e2o and other cars in the segment.

Dr Goenka has already said that the initial bookings for e2o has been disappointing. They hoped to get around 300-400 unit sales monthly, but it seems that target is not achieved. When asked about the number of e2o’s booked, Mr Chandramouli did not give any figure.

At the launch in Delhi last month, Mahindra Reva spoke about taking the e2o to Europe. Yesterday, Mahindra Reva Electric Vehicles, Chief of Operations, R Chandramouli said, that they are working on exporting e2o to  Europe. The company is working on a regulatory framework with the EU to commence exports of the same which are expected to commence by 2014.