Mahindra’s e2O debuts at Rs 5.96 lakh

New Delhi, March 18, 2013: Mahindra & Mahindra’s much-awaited e2O electric vehicle (EV) made its debut today. The car, which was first showcased at the Auto Expo 2012 as the NXR, will cost Rs 5.96 lakh (on-road Delhi) after factoring in a Delhi state subsidy for electric vehicles. The car will be launched in eight cities in the first phase, with a network of 29 dealers.

The company hopes to sell about 6,000 units in the first year. It remains to be seen how many will buy the car outside Delhi where there is no subsidy on offer. The subsidy extended by the Ministry of Non-Conventional Energy Sources came to an end in March 2012.

In this year’s Union Budget 2013-14’s proposals, finance minister P Chidambaram, while extending the benefits for importing critical components like battery and electronic components for electric cars, did not offer any sops for buyers of electric cars.

The e2O is powered by an electric motor that derives power from 48-volt lithium-ion batteries capable of powering the car for about 100km on a single charge. Mahindra sees promise in this project and is considering leasing out the batteries which are an expensive component to replace.

The e2O will be the first product to roll out from Mahindra Reva Electric Vehicles’ state-of-the-art factory in Bangalore, which has a manufacturing capacity of 30,000 units per annum. The e2O is the first vehicle from Reva since it was acquired by M&M in May 2010. It is also the first EV to be launched after the government announced its EV and Hybrids Mission Plan. M&M has invested Rs 100 crore in the e2O project, including the new plant.

Among the known component suppliers to the e2O, Continental India provides the Basic Function Controller (BFC), immobiliser and remote keyless entry. While the Samvardhana Motherson Group is supplying the wiring harness and interior parts, Fiem Industries is supplying the lighting equipment, Rane Group is providing the steering system and Asahi India the glass.

Speaking at the launch in New Delhi today, Dr Pawan Goenka, president (automotive & FES) Mahindra & Mahindra, said he sees good potential in e2O exports. The total market for EVs in 2012 was 120,000 units; this is expected to grow significantly to 3.8 million units by 2020.

Mahindra Reva Electric Vehicles is working on a more powerful drivetrain for export markets. Exports are to start from April 2014. The company also plans to launch a power steering variant later.

e2O factfile

Price: Rs 5.96 lakh (on-road Delhi)

Length: 3280mm

Width: 1514mm

Height: 1560mm

Wheelbase: 1950mm

Weight: 830kg

Ground clearance: 180mm

Top speed: 80kph

Range: 100km on full charge

Photograph (R-L): Anand Mahindra, chairman, Mahindra Group, Dr Pawan Goenka, chairman, Mahindra Reva Electric Vehicles and Chetan Maini, Chief of Strategy & Technology, Mahindra Reva Electric Vehicles, at the e2O launch in New Delhi.