Mahindra Reva Electric Vehicles Pvt Ltd (MREVPL), an arm of Mahindra & Mahindra, has stated that the company will take a decision regarding the development of new electric variants of Mahindra’s India portfolio vehicles by the end of this financial year.
As per a statement given by company’s chief operating officer, R Chandramouli, the company is exploring synergies with M&M, e.g. it can access the huge supplier base of Mahindra. He added that the company is discussing which platforms of the existing portfolio can be converted and a decision is expected to be taken by the end of this fiscal.
As of now, the company is focusing only on M&M’s four-wheelers for the development of electric variants and the two-wheeler segment would not be included in it, in near future. It is to be mentioned here that M&M had recently entered in the volume driven two-wheeler segment and is performing considerably well in it.
Mahindra Reva has planned to retail its electric car Reva-i through selected M&M dealerships in the country. The company’s popular electric car – Reva-i – is available in as many as 6 Indian cities including the recently added Pune. However, it is yet to launch the car in Mumbai as the city lacks proper public infrastructure for charging the car battery.
The company is developing a new four-seater electric car that will be launched in the country by year 2012. Moreover, it is setting-up a new manufacturing plant in Bangalore with an annual manufacturing capacity of 30,000 units. Currently, the company produces mere 1,200 to 1,500 units annually.
Mahindra group currently owns a majority stake of over 55 percent in MREVPL. While the promoter of Reva Electrical, Maini family, accounts for over 31 percent stake in the firm.