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Fri, Nov 24, 2017 | Last Updated 2:32 pm IST

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Mahindra aims to have 8-10% share of total electric vehicles in India in next 4-5 years

Mahindra aims to have 8-10% share of total electric vehicles in India in next 4-5 years
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New Delhi sources have stated that Electric vehicle division of Mahindra & Mahindra, Mahindra Electric has revealed its future electric vehicle strategy including product roadmap and future technology, leading to the next generation of Electric Vehicles, which the company internally refers to as EV 2.0.

Meanwhile Mahindra Electric in a press statement said that the company will continue to invest in next generation EV technology solutions which will deliver longer range, higher speeds and the next generation of connected car technologies. It is looking to increase its battery assembly to 12,000 units in a few months from current capacity of 5000 units.

Mahindra aims to have 8-10% share of total electric vehicles in India in next 4-5 years

Further it was stated that Mahindra will also invest in developing long range and high speed electric vehicles. The company has so far invested Rs 6 billion in EVs and currently sells Mahindra E20 plus, Mahindra e-Verito and Mahindra e-Supro electric vehicles.

Currently the company manufacturers about 400 units of EVs every year and is looking to expand its capacity to 5000 units. Mahindra is committed to work with government of India on new policies of electric vehicles and setting up charging infrastructure.

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