ALSO READMahindra Electric sees 3-fold jump in e-vehicle sales, partners Zoomcar Mahindra unveils growth strategy for electric vehicles business M&M sales up 3.75% at 42,116 units in August Battery prices impact e-vehicle sales, govt should aid sector: Mahindra M&M: Tractors to keep growth engine going
Mahindra and Mahindra today launched e-rickshaw -- e-Alpha Mini -- priced at Rs 1.12 lakh, ex-showroom Delhi, as part of plans to expand its electric vehicle portfolio in the country.
The company, which already sells a range of electric vehicles including e-Verito and e20 Plus in passenger vehicle space, has introduced the three-wheeler taking care of the last mile connectivity.
"The launch of this electric three-wheeler is another step towards e-mobility by the Mahindra group. It will cater to last mile connectivity," M&M Managing Director Pawan Goenka told reporters here.
He added that the company is looking to expand electric portfolio and there will be more product launches in the segment, going ahead.
Asked about the company's investment plans in the electric vehicle space, Goenka said the company has already invested Rs 500 crore and has also committed another Rs 600 crore for the vertical.
"We are also raising the production capacity. From 500 units a month, it will go up to 1,000 units in a couple of months and around 5,000 units in a couple of years," Goenka said.
The company will also take a call on which models from its current product portfolio could be given electric makeover.
Powered by a 120 Ah battery, the five-seater e-Alpha Mini can travel 85 kms on a single charge and can hit a top speed of 25 kmph.
After NCR, the company plans to launch it in Lucknow followed by Kolkata and other parts of the country.
"The launch of the e-Alpha Mini is yet another step to provide an emission free, green mode of safe intra city transportation in the country," said Rajan Wadhera, M&M President - Automotive Sector.