Mahindra Reva Electric Vehicles Pvt. Ltd., a part of the $ 15.4 billion Mahindra Group, has introduced the much awaited electricity powered e2o model in the domestic market on March 18, 2013. The four-seater e2o is India's only battery driven hatchback, of which the company is planning to begin overseas exports in the first half of 2014. As per reports, Mahindra Reva Electric Vehicles is looking at several European countries and China as possible destinations for the export of e2o units. Therefore, if things go according to plans of the electric vehicle maker, e2o might just become the first Indian-made car to be shipped to the Chinese auto market.
Industry sources suggest that Mahindra Reva Electric Vehicles will develop a special variant of the e2o model, which is going to be exported to the international countries. Accordingly, the Indian version and the to-be-exported e2o electric hatchbacks will vary depending upon the type of overseas markets. Further, Reva Electric Car Company, renamed Mahindra Reva Electric Vehicles, had developed the NXR electric car (now called e2o) in order to replace the outgoing Revai model. The Revai models were quite a rage in many European countries, therefore, Mahindra Reva Electric Vehicles will be hoping to capitalise on the growing demand and popularity for battery powered cars in Europe and China.
Commenting on the export operations of newly launched e2o electric hatch, Chetan Maini, Chief of Strategy and Technology, Mahindra Reva Electric Vehicles Pvt. Ltd., has been quoted as saying, “The export variant would be ready by early next year. We are looking at exporting the e2o to all markets we previously exported the Revai. We will also explore possibilities in China.” As per reports, almost 50 per cent of the 4,750 units of manufactured Revai electric cars found buyers in some 24 international markets mostly across Europe and West Asia.
Expressing his views about the China export plans of Mahindra Reva Electric Vehicles, Abdul Majeed, partner and leader in automotive practice at Pricewaterhousecoopers, was quoted as saying, “It makes a lot of sense for auto makers to start exploring export opportunities in China. It is a huge market. Chinese customers are willing to experiment new products. If a product is good, it shouldn’t be difficult to position it vis-a-vis competition in the short to mid term.” As per the industry estimates, Chinese auto market is expected to sell some 5 million electric vehicles by the end of this decade.
The stylish and cute e2o electric car will bear slight differences in retail values across all the Indian states, depending upon the subsidies offered by the respective state governments. Speaking on the same, Anand Mahindra, Chairman, Mahindra Group said, “If the incentive as outlined by the government under the National Electric Mobility Mission Plan had come through, it would have given a push to sales of electric vehicles. But we have gone ahead with the launch as we have believe we have a viable proposition.”
The Mahindra e2o is being cited as the most cost efficient passenger car available in the country. Pawan Goenka, Chairman, Mahindra Reva Electric Vehicles, has been quoted as saying, “The operating costs of e2o is 50 paisa per km as compared to running costs of Rs.5-6 per km of a petrol car. On driving an average of 1200 km every month, a customer would be able to realize savings in fuel cost of about Rs. 75,000 every year. We will feel good if we are able to sell 400-500 units of the e2o per month.”
The Mahindra e2o is going to be launched phase-wise across 8 Indian cities – Delhi, Chandigarh, Cochin, Pune, Ahmedabad, Mumbai, Hyderabad and Bangalore – over the next 3 to 4 weeks. Mahindra Reva Electric Vehicles has pitched its e2o model at a price tag of Rs. 5.96 lakh (the on road price in New Delhi).