Mahindra Reva Electric Vehicles Private Limited, a part of the $ 15 billionMahindra Group, will start exporting its first electric vehicle in the hatch back segment, E20, starting early next year.
The flagship model, which hit New Delhi earlier in March, was launched in Bangalore on Wednesday. The vehicle is priced at about Rs 7 lakhs (on road) in the city, a few thousand more than that in the capital due to the absence of subsidies on electric cars in the state.
“We are definitely looking at the global market. But, this will only happen by early 2014,” said Chetan Maini, Chief of Strategy & Technology, Mahindra Reva Electric Vehicles Pvt. Ltd, at the launch event.
The domestic sales of the flagship model have been disappointing so far. Dr Pawan Goneka, President (Automotive and Farm Equipment Sectors), Mahindra & Mahindra had earlier said that that the company would be happy if the e2o managed to sell 300-400 units monthly.
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