Mahindra slashes electric car e2o price by Rs 92,000

This is a direct results of government's recent announcement of the FAME Scheme

Mahindra Reva Electric Vehicles, India's only electric car manufacturer, today announced a price cut of Rs 92,000 on the e2o, and will now be available for Rs 4,79,000 (On-road Delhi). This is a direct result of the Government’s recent announcement of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Scheme.

The cost is in addition to a fixed energy fee of Rs 2,999 per month for five years or 50,000 km, a statement from the company stated.

Under the aegis of the FAME Scheme, there will be special focus on investments in R&D, incentives for demand creation, setting up of charging infrastructures and rolling out of Electric Vehicle pilot projects. An upsurge in publicly available charging ports is expected besides the existing ports that have been set-up by the company.

Pravin Shah, President & Chief Executive (Automotive), Mahindra & Mahindra said: “The benefits of the scheme in terms of demand incentives will be passed on to our customers, thereby making the e2o a more compelling and  viable choice for mobility. Further, with the intervention of the government towards increasing charging infrastructure coupled with our technological updations, we hope to address range anxiety, accelerate EV awareness and expand our network across the country. Going forward with the formulated policies in place, I am confident that India is set to witness a shift in changing lifestyles and a spurt in electric vehicle takers”.

The Bengaluru-based car maker is slated to introduce more models running on rechargeable batteries in the coming months including a high-performance compact car.