Mahindra plans to export its electric vehicle range across Western Europe that provide better infrastructure to support EVs and thereby will help increase sales.
Electric Vehicle sales did not pan out as Mahindra would have hoped for. Without any significant infrastructure or any subsidies available from the government, the sales report for Mahindra’s electric vehicles has been highly disappointing in the domestic markets. In an attempt to revive sales, the company is looking at growth in the more developed markets. Mahindra plans to export its electric range across Western Europe and has targeted markets like the UK, Norway and France for the sale of electric vehicles.
Mahindra’s first electric vehicle to be launched was the much ambitious e2o. However, the sales of the vehicle are far from satisfactory. In a recent statement, Executive Director and President Pawan Goenka said that the company aims to sell at least 100 units of its electric vehicles every month but is retailing a cumulative 250 units across the country per year. Adding further, he said that the low demand was due to the lack of government support at state levels. Apart from Karnataka, West Bengal and Maharashtra, no other state is providing incentives for purchase of electric vehicles.
Mahindra has invested around Rs. 150 crores in developing new electric vehicles which include the Verito Electric as well as the electric versions of the Maxximo and Gio commercial vehicles. The company aims to sell 100 units in the overseas markets and 100 units in the domestic market with its electric vehicles, which is cited as a good volume for the company which is predominantly a utility maker. Mahindra also confirmed that the Verito Electric will hit the market by mid-2015 and sold in the taxi and commercial car rental categories, which are expected to generate good demand. The Maxximo EV is also expected to be launched late next year.
