Electric vehicles sales had been increased by a Popular automaker Mahindra & Mahindra’s electric vehicle (EV). The sales had been developed to 2.5 times to 10,276 units in 2018-19.
Electric vehicles sales rise 2.5 times-Mahindra Electric
The Indian company based in Bangalore which does designing and manufacturing of compact electric vehicles is witnessing the growth in the sales of its EVs.
It has a range of Electric vehicles such as sedan e-Verito, van e-Supro, compact car e2o in the four-wheeler category and in three-wheelers it has Treo which had a sales of 4,026 units in 2017-18.
Mahindra Electric working on EESL order
Currently, the company is working for the orders of electric cars from state-owned EESL. The phase-II order of ESSL, contributing to the growth of the Indian manufacturer. The order deliveries will be done by 2019-20, said the company.
M&M to supply 10,000 electric sedans
The M&M with its competitor, Tata Motors bagged the orders from Energy Efficiency Services Ltd (EESL), the tenders to supply 10,000 electric sedans for government departments usage.
In the first phase order, the order was of delivering 500 electric cars. Mahindra and Mahindra delivered 150 electric cars and left by Tata Motors.
FAME II subsidy
Under the FAME II subsidy, its electric vehicles will be profitable, Treo and e-Supro cargo already qualified for the benefits which can be obtained from the FAME Scheme.
As the government’s push to provide incentives, Rs 10,000-crore budgeted under the FAME II scheme to encourage the eco-mobility in India.
For the e-rickshaws which have an ex-factory price of up to Rs 5 lakh will get an incentive of Rs 50,000 each.
For four-wheelers benefits, it is giving an incentive of Rs.1.5 lakh to each 35,000 electric four-wheelers having the ex-factory price of Rs 15 lakh, and an incentive, Rs 13,000 each to 20,000.
If the vehicle is strong hybrid four-wheelers with the ex-factory price of up to Rs 15 lakh.
As per the government’s decision the sale of only Electric three-wheelers will run on the Indian roads by 2025.
The TREO with its lithium-ion battery will lead the segment. The company is also looking forward to taking Treo pan-India.
MoU with TWU (Three Wheels United)
The company said that it had signed an MoU with TWU (Three Wheels United). TWU is a social enterprise which provides affordable funds to the autorickshaw drivers and Smart E to supply 1,000 units of TREO in the near future.
M&M opened its electric technology manufacturing hub done an investment of Rs 100 crore in Bengaluru. It holds a capacity of 25,000 units per annum.
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