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Indian Government Orders 10,000 EVs
India’s government has ordered 10,000 electric vehicles to be delivered over four years by Tata Motors Ltd. and Mahindra & Mahindra Ltd.
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India’s government has ordered 10,000 electric vehicles to be delivered over four years by Tata Motors Ltd. and Mahindra & Mahindra Ltd.
The 11.2 billion-rupee ($172 million) deal was made by the power ministry’s Energy Efficiency Services Ltd. company. India describes the transaction as the world’s largest single EV sale ever.
Tata was the low bidder on the order. But under Indian norms, Mahindra has been allowed to match Tata’s price and provide 150 EVs under the first phase of the contract. Mahindra is reviewing its option to do the same for a 40% share of the remaining deliveries.
Tata’s bid sets the per-unit price for the EVs at 1.22 million rupees ($18,700). Mahindra describes the price, which is 230,000 rupees ($3,500) below its own bid, as “hard to comprehend.”
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