Mahindra e20 to cost Rs 4.79 lakh after Government incentive

Mahindra Reva has been able to reduce to price of its automatic electric vehicle e20 by 16%, following an incentive by the Indian Government. The e20 will now cost Rs 4.79 lakh(on-road, Delhi), in addition to a fixed energy fee of Rs 2999 per month for 5 years or 50,000 km.

Under the Government’s FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Scheme, special focus and incentives will be provided for R&D and sale of electric and hybrid vehicles. Mahindra e20 takes direct benefit from this scheme and will also take advantage from an expected surge in publicly available charging slots.

Speaking on the issue, Pravin Shah, President & Chief Executive (Automotive), Mahindra & Mahindra said “We welcome this important, progressive and timely initiative from the Central Government and the Ministry of Heavy Industries which has the potential to boost the EV industry in India and put it high on the global map.”

“The benefits of the scheme in terms of demand incentives will be passed on to our customers, thereby making the e2o a more compelling and  viable choice for mobility. Further, with the intervention of the government towards increasing charging infrastructure coupled with our technological updations, we hope to address range anxiety, accelerate EV awareness and expand our network across the country. Going forward with the formulated policies in place, I am confident that India is set to witness a shift in changing lifestyles and a spurt in electric vehicle takers”.

FAME scheme is expected to tackle the twin issues of energy security and environmental pollution, apart from giving car manufacturers an incentive to roll out their hybrids in India.