Market has halved over two years as consumers opt for cheaper, fuel-driven cars

India’s move to popularise electric vehicles has skidded on policy flip-flop and consumer propensity to opt for the cheaper fossil fuel-driven variants. The size of the domestic market for electric vehicles, primarily two-wheelers, has more than halved over the past two years, forcing about half a dozen manufacturers like BSA Motors, Ultra Motors, Luminous and Eco Motors to shut shop.

Mahindra and Mahindra, on Monday, launched its all-electric four-seater passenger car, the e2o, with price starting at Rs.5.96 lakh.

The car is developed by Mahindra Reva Electric Vehicles (formerly Reva Electric Car Company), and will replace its predecessor Reva, India’s first electric car. “The launch of the Mahindra e2o marks an important milestone for the Mahindra Group…this is not just about selling a car, it is about telling people to change their lifestyle. We are working at creating an ecosystem that includes mobility solutions along with other environment-friendly innovations,” Mahindra Group Chairman Anand Mahindra told reporters here.

Mahindra Reva Electric Vehicles on Wednesday said that it is working on introducing electricity-driven technology in Mahindra & Mahindra

World

THE world

Sushila Ravindranath

Ronojoy Banerjee

New Delhi: The electric car segment received a huge boost on Wednesday with utility major Mahindra and Mahindra (M&M) buying out a controlling stake of 55.2% in the electric car maker Reva. The company also promised to make an equity infusion of Rs 45 crore and has renamed the company Mahindra Reva Electric Vehicle Co following the joint venture.

Mahindra & Mahindra Ltd (M&M), India

Kuntal Mukherjee