Mahindra Reva has finally decided to launch the electric car E2O in the Indian market. The company was expecting soaps from the 2013 budget and roll out the National Mission for Electric & Hybrid Mobility which was announced a couple of months back.
In January, Mahindra Reva announced the official name plate of the first electric car from the new JV. The electric car will have a top speed of 100 kms per hour and will equipped with latest features available in modern cars.
Mahindra Reva had set itself a target of selling 30,000 units by 2015-2016 including 15,000 units for exports. The car will be built at Mahindra Reva’s plant in Bengaluru which is India’s first platinum certified automobile plant and has a rated capacity of 30,000 cars per annum.
Considering the lack of infrastructure for electric vehicles, Mahindra has tied up with State Bank of India, power distribution companies like BSES and different malls across leading cities for charging stations. Mahindra Reva have installed 100 charging stations across Delhi and Bangalore, and is aiming to add 300-500 in the next few years.
Mahindra will price the E2O at a slight premium over the popular hacthbacks like Maruti Swift & Hyundai i20. But at prices above Rs. 5 lakhs will the E2O find many buyers in the Indian market?
Considering the limitations, we expect only a few takers for the electric car.
