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Mahindra Launches New Electric Car
Mahindra & Mahindra Ltd. has introduced its e20 electric hatchback in India, priced at 596,000 rupees ($11,000).
The car, which replaces the two-seater REVAi electric vehicle, boasts a range of more than 100 km (62 miles) per charge.
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Mahindra & Mahindra Ltd. has introduced its e20 electric hatchback in India, priced at 596,000 rupees ($11,000).
The car, which replaces the two-seater REVAi electric vehicle, boasts a range of more than 100 km (62 miles) per charge.
The e20 was developed by the Mahindra Reva Electric Vehicles unit. Mahindra acquired a majority stake in Reva Electric Car Co. in 2010.
The company aims to initially sell 400-500 e20s per month in India. Mahindra says it will launch the EV in Europe by April 2014, starting in Iceland and Norway.
Analysts say EVs haven't caught on in India, in part because of a lack of charging infrastructure. The company has set up 250 charging stations in big cities, including 95 in New Delhi.
India's government plans to spend as much as 138.5 billion rupees ($2.6 billion) in trade and financial incentives to promote the EV market.
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