"The company is looking to double its sales of electric vehicles, including passenger cars. It is economically viable to sell EVs to fleet operators than individuals," said Chief Executive Officer Mahesh Babu.
Last year, it sold around 4,000 electric vehicles of which 1,300 are passenger cars.
According to Mahesh Babu, the electric passenger vehicle market is stable while commercial electric vehicle segment is experiencing strong growth.
Owing to limitations of charging stations or points along with low run-time on a single charge, there are not enough takers for electric vehicles, he said, adding that the car maker's flagship passenger car model e2o Plus can cover at least 100 km on a single charge.
He said that the tie-up with Zoomcar is "crucial" to drive future growth of electric vehicles.
Mahindra Electric and Zoomcar on Wednesday announced the extension of their unique service, by offering electric vehicles (EVs) as shared mobility solution in Kolkata.
The self-drive mobility platform is targeting a fleet of 2,000 electric cars by the year-end from 300 at present, said its CEO, Greg Moran.